Are you a BMW Motorrad motorbike owner who financed your ride through a
Personal Contract Purchase (PCP) or
Hire Purchase (HP) agreement? If so, it's important to understand that during the period from 6 April 2007 to 1 November 2024, these finance agreements were commonly sold by dealerships for BMW Motorrad motorbikes. The Financial Conduct Authority (FCA) has been investigating potential mis-selling practices in this market, and many owners might be entitled to compensation.
How BMW Motorrad Motorbikes Were Financed
BMW Motorrad motorbike buyers often financed their purchases through various lenders such as
Black Horse,
Close Brothers Motor Finance,
MotoNovo Finance, and
Moneybarn. These finance agreements typically included Personal Contract Purchase (PCP) or Hire Purchase (HP) options. PCP agreements usually allowed for a lower monthly payment compared to HP by including an estimated future value of the vehicle at the end of the agreement, while HP contracts required full repayment of the loan over its term.
The FCA Motor Finance Investigation
The FCA has been investigating
discretionary commission arrangements made between motor finance lenders and car dealerships. These practices could have led to inflated prices for customers when they financed their BMW Motorrad motorbikes through a PCP or HP agreement. According to the FCA, 12.1 million eligible agreements (FCA, March 2026) were affected by these practices, with an average mis-selling of £829 per customer and a total amount of £7.5 billion (FCA estimate).
How to Check Your Agreement Look for signs that discretionary commissions were involved in your financing process, such as unusually high fees or a discrepancy between the advertised price and what you actually paid. check the dates of your finance agreement; if it falls within the period from 6 April 2007 to 1 November 2024, there is a possibility that your agreement was affected.
If you suspect your BMW Motorrad finance agreement might have been mis-sold, you can complain directly to the lender at no cost. Common lenders such as Black Horse, Close Brothers Motor Finance, MotoNovo Finance, and Moneybarn all have dedicated complaint handling procedures in place. You do not need a
claims management company; these companies often charge high fees for services that you can handle yourself by contacting your lender directly.
Sources and References
- Financial Conduct Authority (FCA) estimates regarding the number of affected agreements, total amount mis-sold, and average compensation per customer.
- Official FOS guidelines on finance complaints.
- ONS Census 2021 for demographic data.
FCA Compensation: FCA Scheme Figures
The FCA confirmed on 30 March 2026 that 12.1 million motor finance agreements are covered by the FCA redress scheme. The FCA-estimated scheme average of £829 per eligible agreement per agreement, with a total of £7.5 billion set aside for consumers. The scheme covers PCP and HP agreements entered into between 6 April 2007 and 1 November 2024.
Two separate schemes apply: post-2014 agreements (implement by 30 June 2026) and pre-2014 agreements (implement by 31 August 2026). The final deadline to complain is 31 August 2027. You can complain to your lender directly for free. You do not need a claims management company.