Was your Autoquest Autoquest 115 sold to you on a Personal Contract Purchase (PCP) or Hire Purchase (HP) finance agreement between 6 April 2007 and 1 November 2024? If so, it may have been part of the Financial Conduct Authority’s (FCA) investigation into motor finance mis-selling. This period saw a significant number of Autoquest Autoquest 115s being sold on finance agreements that were later found to be potentially unfair due to discretionary commission arrangements.
How the Autoquest Autoquest 115 was Typically Financed
The Autoquest Autoquest 115, a popular motorhome model, was frequently financed through PCP and HP agreements ranging from £40,000 to £80,000. Common lenders for these finance arrangements included Black Horse, Close Brothers Motor Finance, Lombard, and Billing Finance. The typical term of these agreements ranged from 48 to 120 months, often including a balloon payment at the end of the contract.
Discretionary commission arrangements were common during this period, where brokers or dealers received additional payments based on the type of finance agreement chosen by the customer. These commissions could have influenced the advice given about which finance option was best for the buyer, potentially leading to unfair deals.
The FCA Motor Finance Investigation
The FCA launched an investigation into motor finance mis-selling due to concerns over discretionary commission arrangements that may have led to customers being sold unsuitable products. This investigation found that 12.1 million eligible agreements (FCA, March 2026) by these practices during the specified period (FCA estimate), with a total compensation amount of £7.5 billion (FCA, March 2026) and an FCA-estimated scheme average of £829 per eligible agreement per agreement (FCA estimate).
The investigation concluded that many customers had been advised to enter into finance agreements based on misleading information about their suitability, leading to higher costs or less flexible terms than necessary.
How to Check Your Agreement Look for signs that discretionary commission arrangements may have influenced the deal:
- Dates: Ensure that the agreement was made between 6 April 2007 and 1 November 2024.
- Discretionary Commission Arrangements (DCA): Check if your finance agreement mentions any additional payments to brokers or dealers beyond standard commission rates.
If you find these signs, it is worth investigating further whether your finance agreement was mis-sold.
You do not need a claims management company to pursue a complaint. Common lenders like Black Horse, Close Brothers Motor Finance, Lombard, and Billing Finance all have dedicated teams that handle customer complaints. Here’s how you can proceed:
- Identify the Issue: Clearly outline why you believe your finance agreement was mis-sold.
- Gather Documentation: Collect any relevant paperwork or correspondence related to your purchase and finance agreement.
- Contact Your Lender: Reach out directly to your lender’s customer service team or visit their website for complaint forms.
You can complain directly to your lender for free without the need for a claims management company, which is often unnecessary and costly.
Sources and References
- Financial Conduct Authority (FCA). "Motor Finance Mis-selling Investigation." FCA Estimate.
- ONS Census 2021. "UK Population Data."
- Financial Ombudsman Service (FOS). "Consumer Complaints Guide."
Towed caravans are NOT covered by the FCA motor finance scheme. Only self-propelled motorhomes with their own engine and drivetrain are in scope for the FCA investigation.