The Elddis Autoquest was commonly sold on Personal Contract Purchase (PCP) and Hire Purchase (HP) finance agreements during the Financial Conduct Authority (FCA) investigation period from 6 April 2007 to 1 November 2024. The FCA's investigation uncovered widespread mis-selling practices in the motor finance industry, affecting millions of consumers who financed their Elddis Autoquests through various lenders.
How the Elddis Autoquest was Typically Financed
Elddis Autoquest motorhomes were often sold with PCP and HP financing options that ranged from £40,000 to £80,000. These agreements typically spanned 48 to 120 months, with a balloon payment due at the end of the term for PCP plans. The most common lenders providing finance for Elddis Autoquests were Black Horse, Close Brothers Motor Finance, Lombard, and Billing Finance.
PCP deals often involved lower monthly payments compared to HP agreements but required a large final payment known as a balloon payment, which could be unaffordable for many buyers at the end of their term. The terms and conditions of these finance agreements often included hidden fees or excessive interest rates that were not clearly communicated to customers during the sales process.
The FCA Motor Finance Investigation
The FCA launched an investigation into discretionary commission arrangements in motor finance agreements, which led to significant mis-selling practices across the industry. According to the FCA, 12.1 million eligible agreements (FCA, March 2026) were affected by these arrangements, resulting in a total of £7.5 billion (FCA, March 2026) in overcharges (FCA estimate). The average overcharge per customer was around £829 (FCA estimate).
Discretionary commission schemes allowed lenders and dealers to earn additional income based on the type of finance agreement chosen by customers. This often led to customers being pushed towards more expensive financing options that were not in their best interest, such as PCP deals with high balloon payments or agreements with excessive interest rates.
How to Check Your Agreement Look for any mention of discretionary commission arrangements, which may be indicated by phrases like "DCA" or "Discretionary Commission Arrangement." check if your agreement was signed between 6 April 2007 and 1 November 2024.
If you suspect that your finance agreement was mis-sold due to such practices, it is important to review the terms of your contract and compare them with standard financing options available at the time. You can also seek advice from a financial advisor or contact your lender directly for clarification.
If you believe that your Elddis Autoquest finance agreement was mis-sold, you do not need to engage a [claims management company](https://mlj.org.uk/guides/complaints-about-claims-management-companies); you can complain directly to your lender at no cost. Common lenders such as Black Horse, Close Brothers Motor Finance, Lombard, and Billing Finance all have dedicated customer service teams who can assist with complaints.
To initiate the complaint process, gather all relevant documents including your finance agreement, payment records, and any correspondence with your dealer or lender. Then contact your lender's customer support line to explain your concerns and request a formal review of your case. The FCA also provides guidelines on how to make effective complaints directly to lenders, which can be found on their official website.
Sources and References
- Financial Conduct Authority (FCA). "Discretionary Commission Arrangements in Motor Finance." 2024.
- Office for National Statistics (ONS) Census. 2021.