The Yamaha Tenere 700, a popular adventure motorcycle known for its durability and versatility, 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. This period saw widespread concerns over motor finance mis-selling practices that affected millions of consumers across the UK.
How the Yamaha Tenere 700 was Typically Financed
The Yamaha Tenere 700, a model favoured by adventure riders and off-road enthusiasts alike, was often sold through PCP agreements ranging from £5,000 to £15,000 (FCA estimate). Common lenders for the Tenere 700 included Black Horse, Close Brothers Motor Finance, MotoNovo Finance, and Moneybarn. These finance deals typically spanned a term of 36 to 48 months, with some agreements featuring balloon payments at the end of the contract.
Balloon payments are large lump sums payable at the end of a PCP agreement if you decide to keep the motorcycle or use it as part of another finance deal. However, many consumers found themselves unable to meet these final payments due to unforeseen circumstances or changes in their financial situation.
The FCA Motor Finance Investigation
The FCA investigation uncovered significant issues related to discretionary commission arrangements (DCAs) used by motor dealerships and lenders during the sale of PCP agreements. These practices led to excessive commissions being paid to sales staff, incentivising them to push customers into more expensive finance deals with higher fees and charges. The result was an estimated 12.1 million eligible agreements (FCA, March 2026) across the UK, involving a total value of £7.5 billion (FCA, March 2026), with consumers losing on average £829 per agreement due to overcharging and mis-selling practices (FCA estimate).
How to Check Your Agreement Look for any mention of discretionary commission arrangements (DCAs) or excessive fees and charges. The relevant dates are between 6 April 2007 and 1 November 2024.
Key indicators that your agreement may be affected include:
- Higher-than-necessary finance rates
- Excessive fees in the contract
- Incentives for choosing more expensive deals
If you notice any of these signs, it’s worth reaching out to your lender directly to discuss potential issues with your agreement.
You do not need a claims management company to complain about your Yamaha Tenere 700 finance agreement. Common lenders such as Black Horse, Close Brothers Motor Finance, MotoNovo Finance, and Moneybarn offer free complaint services that you can utilise directly without any intermediary fees.
When making a complaint, gather all relevant documentation including the original finance contract, payment records, and any correspondence with your lender. Follow the specific steps outlined by your lender to submit your complaint formally. You can complain directly to your lender for free and seek redress through this channel rather than engaging expensive claims management companies.
Sources and References
- Financial Conduct Authority (FCA). "Motor Finance Market Investigation". Retrieved from FCA website.
- Office of National Statistics (ONS) Census 2021
- Financial Ombudsman Service (FOS)