The KTM 890 Duke was commonly sold on Personal Contract Purchase (PCP) and Hire Purchase (HP) finance agreements during the Financial Conduct Authority's (FCA) investigation period, spanning from 6 April 2007 to 1 November 2024. This period saw millions of motorbike owners like those who purchased the KTM 890 Duke potentially affected by motor finance mis-selling practices.
How the KTM 890 Duke was Typically Financed
The KTM 890 Duke, a high-performance sport bike with a reputation for agility and power, was often financed through PCP or HP agreements. The typical finance amount ranged from £5,000 to £15,000 (FCA estimate), and the term of these agreements typically lasted between 36 and 48 months.
Common lenders providing finance for KTM motorcycles included Black Horse, Close Brothers Motor Finance, MotoNovo Finance, and Moneybarn. PCP agreements often featured balloon payments at the end of the contract, which could be significant if the customer did not refinance or buy out the bike outright.
The FCA Motor Finance Investigation
The Financial Conduct Authority (FCA) conducted a full investigation into motor finance arrangements during its designated period, focusing on discretionary commission arrangements. These practices affected an estimated 12.1 million eligible agreements (FCA, March 2026) across various vehicle types, including motorcycles like the KTM 890 Duke (FCA estimate). The total value of these mis-sold agreements was approximately £7.5 billion (FCA, March 2026) (FCA, March 2026).
The investigation revealed that lenders often paid discretionary commissions to dealers, which were not disclosed to the consumer and could influence the type of finance agreement offered. This led to customers being sold more expensive agreements than necessary.
How to Check Your Agreement Finance Terms: Look for PCP or HP terms that were arranged between April 2007 and November 2024.
- Relevant Dates: Ensure the date of your financing falls within the FCA investigation period (6 April 2007 to 1 November 2024).
- Discretionary Commission Agreement (DCA): Check if your agreement includes any reference to a DCA, which would indicate that discretionary commissions were involved.
If you identify these elements in your finance agreement, it is likely that you are covered by the FCA redress scheme. due to mis-selling practices.
You do not need a claims management company to pursue a complaint. Common lenders such as Black Horse, Close Brothers Motor Finance, MotoNovo Finance, and Moneybarn provide mechanisms for customers to raise complaints directly with them at no cost.
To initiate the process, gather all relevant documentation including your finance agreement, payment records, and any correspondence with the lender. Contact your lender's customer service department or submit a complaint through their official website. The Financial Ombudsman Service (FOS) can also be involved if you are unsatisfied with the initial response from your lender.
Sources and References
- FCA: "Motor Finance Investigation" (2024)
- Financial Conduct Authority, Statistics on Motor Finance Agreements (2024)
- Financial Ombudsman Service, Guidance for Consumers (2023)