The Hymer Free motorhome was commonly sold on Personal Contract Purchase (PCP) and Hire Purchase (HP) finance agreements during the period covered by the Financial Conduct Authority's (FCA) motor finance investigation, which ran from 6 April 2007 to 1 November 2024. This period saw a significant number of consumers purchasing high-value vehicles like the Hymer Free through various financing options, often with substantial amounts involved.
How the Hymer Free was Typically Financed
Hymer Frees were frequently financed through PCP and HP agreements that ranged from £40,000 to £80,000. These finance arrangements typically spanned terms of 48 to 120 months, providing flexibility for consumers who wanted to own a high-end motorhome without requiring an upfront lump sum payment. Common lenders offering finance for Hymer Frees included Black Horse, Close Brothers Motor Finance, Lombard, and Billing Finance.
PCP agreements often featured balloon payments at the end of the contract term, which required buyers to settle any remaining balance or return the vehicle if they did not wish to purchase it outright. This structure allowed consumers to manage their finances more effectively by spreading costs over a longer period while maintaining flexibility regarding ownership.
The FCA Motor Finance Investigation
The Financial Conduct Authority's investigation into motor finance revealed significant issues related to discretionary commission arrangements that benefited lenders and finance intermediaries at the expense of consumers. These arrangements led to an estimated 12.1 million eligible agreements (FCA, March 2026) being affected (FCA estimate) across various vehicle types, including luxury motorhomes like the Hymer Free. The total loss to consumers was approximately £7.5 billion (FCA, March 2026), with the average consumer losing around £829 (FCA estimate).
Discretionary commission arrangements allowed finance intermediaries and lenders to receive higher commissions than originally disclosed or agreed upon by the customer, leading to inflated interest rates and additional fees that were not transparently communicated during the sales process.
How to Check Your Agreement Key indicators include:
- Relevant Dates: Agreements signed between 6 April 2007 and 1 November 2024 are within scope for the FCA investigation.
- Discretionary Commission Agreement (DCA): Look for references to DCA or any mention of commissions that were not clearly disclosed as part of your agreement.
If you suspect that your finance arrangement may have been affected, it is advisable to contact your lender directly to discuss potential discrepancies and seek clarification on the terms of your agreement. Understanding these details will help you make an informed decision about how to proceed with your complaint.
You do not need a claims management company to address any concerns regarding your Hymer Free finance agreement. Common lenders such as Black Horse, Close Brothers Motor Finance, Lombard, and Billing Finance all have dedicated customer service teams that can assist you with resolving issues related to discretionary commission arrangements.
Complaining directly to your lender is straightforward and free of charge. By providing detailed evidence from your finance documents and highlighting any discrepancies or misleading information, you can initiate the process of addressing potential mis-selling without incurring additional fees or engaging third-party services.
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.
Sources and References
- Financial Conduct Authority (FCA), 2024
- Office for National Statistics Census, 2021