The Benelli TRK 502, a popular motorbike model known for its versatile performance and robust build quality, was commonly sold on Personal Contract Purchase (PCP) and Hire Purchase (HP) finance agreements during the Financial Conduct Authority's (FCA) investigation period from 6 April 2007 to 1 November 2024. The FCA’s investigation into motor finance uncovered significant issues related to discretionary commission arrangements, affecting millions of consumers who entered into PCP and HP agreements.
How the Benelli TRK 502 was Typically Financed
The Benelli TRK 502 was often financed through Personal Contract Purchase (PCP) or Hire Purchase (HP) plans. Financing a Benelli TRK 502 typically ranged between £5,000 and £15,000, with terms commonly lasting from 36 to 48 months. Several finance providers were known for offering these agreements, including Black Horse, Close Brothers Motor Finance, MotoNovo Finance, and Moneybarn.
PCP agreements often included a balloon payment at the end of the term, which represents the remaining value of the motorbike that must be settled if you decide to keep it or buy out the agreement. This final payment can make up a significant portion of the overall finance cost.
The FCA Motor Finance Investigation
The Financial Conduct Authority (FCA) launched an investigation into motor finance agreements following reports of widespread mis-selling practices. A key issue identified was the use of discretionary commission arrangements, where lenders paid car and motorcycle dealers extra commissions based on certain criteria, such as achieving higher sales volumes or securing larger loans.
According to the FCA’s findings, 12.1 million eligible agreements (FCA estimate) were affected by these controversial practices between April 2007 and November 2024. The total value of mis-sold finance agreements was estimated at £7.5 billion (FCA, March 2026), with an average overpayment per agreement of £829 (FCA estimate). These figures highlight the scale of potential mis-selling across the UK motor finance market during this period.
The relevant period for this investigation is from 6 April 2007 to 1 November 2024. If your agreement falls within these dates and you believe it may have been impacted by the use of DCAs, you should investigate further. The FCA has provided guidelines for consumers to check their agreements and identify potential mis-selling.
If you suspect that your Benelli TRK 502 finance agreement was affected by the FCA’s findings on discretionary commission arrangements, it is important to understand how to proceed. You do not need a claims management company; instead, you can complain directly to your lender at no cost.
Common lenders for Benelli motorcycles include Black Horse, Close Brothers Motor Finance, MotoNovo Finance, and Moneybarn. Each of these companies has established processes for handling complaints related to motor finance agreements. They are required by law to provide a fair and transparent resolution process when you raise concerns about your agreement.
You can complain directly to your lender without incurring any fees or costs associated with hiring a third-party claims management company. Simply contact the customer service department of your lender and request a review of your finance agreement based on the FCA’s findings regarding discretionary commission arrangements.
Sources and References
- Financial Conduct Authority (FCA), 2024
- Office for National Statistics Census (ONS Census) 2021