The Triumph Speed 400 was commonly sold on Personal Contract Purchase (PCP) and Hire Purchase (HP) finance agreements during the Financial Conduct Authority’s (FCA) investigation period, which ran from 6 April 2007 to 1 November 2024. This popular motorbike model attracted a significant number of buyers who opted for finance packages offered by various lenders. However, many consumers may not be aware that their financing arrangements could have been affected by the FCA’s investigation into mis-selling practices in the motor finance industry.
How the Triumph Speed 400 was Typically Financed
The Triumph Speed 400 was often financed through Personal Contract Purchase (PCP) and Hire Purchase (HP) agreements, with typical finance amounts ranging from £5,000 to £15,000. These financing options were commonly provided by lenders such as
Black Horse,
Close Brothers Motor Finance,
MotoNovo Finance, and
Moneybarn. PCP agreements typically had terms of 36 to 48 months and often included a balloon payment at the end of the term.
Under these finance arrangements, consumers would pay monthly instalments towards the cost of the Triumph Speed 400 over the agreed period. For PCP contracts specifically, there was an option for customers to either return the bike or pay a lump sum (the balloon payment) to own it outright at the end of the agreement.
The FCA Motor Finance Investigation
The FCA’s investigation uncovered that many finance agreements were sold with
discretionary commission arrangements that may have led to mis-selling. These practices involved lenders paying additional commissions to dealers based on factors such as the term length, interest rate, and add-on products sold alongside the finance agreement. As a result, 12.1 million eligible agreements (FCA, March 2026) by these issues during the investigation period (FCA estimate), with an estimated total of £7.5 billion (FCA, March 2026) in mis-sold agreements (FCA estimate). The average amount mis-sold per agreement was approximately £829 (FCA estimate).
These discretionary commission arrangements often led to customers being sold more expensive finance products than necessary, or they may have been sold additional add-ons that were not required for their specific situation. This can result in higher monthly payments and overall costs for the consumer.
How to Check Your Agreement Look for any mention of discretionary commissions or additional charges that were not clearly explained at the time of purchase. Relevant dates to consider are from 6 April 2007 up until 1 November 2024.
One key term to look out for is “Discretionary Commission Agreement” (DCA). This indicates that your finance agreement may have included discretionary commissions, which were a focus of the FCA investigation. If you find any such terms or conditions in your contract, it’s important to seek further advice from your lender regarding potential mis-selling issues.
If you suspect that your Triumph Speed 400 finance agreement was affected by the FCA’s findings on discretionary commission arrangements, you can complain directly to your lender without needing a
claims management company. Common lenders for the Triumph Speed 400 include Black Horse, Close Brothers Motor Finance, MotoNovo Finance, and Moneybarn.
When contacting your lender, provide them with evidence from your finance agreement that suggests potential mis-selling practices were involved in your transaction. This could include details of any additional charges or commissions mentioned in your contract. Be sure to clearly outline why you believe the terms of your finance agreement were unfair or misleading.
You can complain directly to your lender for free and do not need a claims management company to assist with this process. If your complaint is unsuccessful, you may also seek assistance from the Financial Ombudsman Service (FOS), which provides an independent review of complaints about financial products and services.
Sources and References
- FCA estimates on mis-sold agreements: 12.1 million eligible agreements (FCA, March 2026), £7.5 billion (FCA, March 2026) total (FCA estimate), £829 average per eligible agreement
- Financial Ombudsman Service (FOS) guidelines for motor finance complaints
- Lenders commonly associated with the Triumph Speed 400: Black Horse, Close Brothers Motor Finance, MotoNovo Finance, Moneybarn