The Indian Pursuit motorbike was commonly sold on Personal Contract Purchase (PCP) and Hire Purchase (HP) finance agreements during the period from 6 April 2007 to 1 November 2024. During this time, many riders financed their Indian Pursuits through various lenders, including Black Horse, Close Brothers Motor Finance, MotoNovo Finance, and Moneybarn, often with terms ranging from £5,000 to £15,000 over 36 to 48 months.
How the Indian Pursuit was Typically Financed
The Indian Pursuit motorbike was often financed through Personal Contract Purchase (PCP) or Hire Purchase (HP) agreements. PCP agreements typically allowed buyers to make lower monthly payments with a significant lump sum, known as a balloon payment, due at the end of the agreement term. This method appealed to many riders who were looking for affordable monthly repayments while retaining flexibility in ownership.
Hire Purchase (HP), on the other hand, provided a more straightforward financing option where the borrower pays off the full cost of the motorcycle over an agreed period with no balloon payment due at the end. For the Indian Pursuit, typical finance agreements ranged from £5,000 to £15,000, and terms generally lasted between 36 and 48 months.
Common lenders for financing the Indian Pursuit included Black Horse, Close Brothers Motor Finance, MotoNovo Finance, and Moneybarn. These financial institutions provided a wide range of finance options, including both PCP and HP agreements, to help riders acquire their dream motorbike without upfront payment constraints.
The FCA Motor Finance Investigation
In its investigation into the sale of motor finance products, the Financial Conduct Authority (FCA) discovered that many finance companies made discretionary commission arrangements with car dealers. This practice involved paying extra commissions to incentivize higher sales volumes and potentially misleading customers about the true cost and risks of their financing agreements.
The FCA found that 12.1 million eligible agreements (FCA, March 2026) by these practices across the UK between 6 April 2007 and 1 November 2024 (FCA estimate). The total value of these mis-sold agreements amounted to £7.5 billion (FCA, March 2026) (FCA, March 2026).
The key dates to look out for are 6 April 2007 and 1 November 2024. If your agreement was made during this period and included a DCA, you may have grounds to complain about the mis-selling of your finance product. The FCA's investigation has highlighted these agreements as potentially problematic due to misleading sales practices.
If you suspect that your Indian Pursuit finance agreement was mis-sold and falls under the criteria mentioned above, you can complain directly to your lender at no cost. Common lenders like Black Horse, Close Brothers Motor Finance, MotoNovo Finance, and Moneybarn have procedures in place to handle complaints related to this issue.
You do not need a claims management company to file a complaint. Simply contact your lender’s customer service department with details of your agreement and any concerns you may have regarding the financing terms or sales process. They will be able to guide you through the necessary steps for submitting a formal complaint and addressing any issues that arise from the investigation findings.
Sources and References
- Financial Conduct Authority (FCA). "Motor Finance Investigation Findings." 2024.
- Financial Ombudsman Service (FOS). "Guidance on Handling Motor Finance Complaints." 2024.