The Hymer Grand Canyon, a popular motorhome model known for its spacious interiors and luxurious features, 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 a significant number of motorhome buyers entering into finance arrangements that may have been affected by mis-selling practices, potentially leading to excessive commissions and unfair terms for consumers.
How the Hymer Grand Canyon was Typically Financed
The Hymer Grand Canyon is often financed through various lenders such as Black Horse, Close Brothers Motor Finance, Lombard, and Billing Finance. PCP agreements for this motorhome usually range from £40,000 to £80,000 with terms spanning 48 to 120 months. These agreements typically include a balloon payment at the end of the term, which is a lump sum that must be paid in full if the borrower chooses not to buy or refinance the motorhome.
The FCA Motor Finance Investigation
The FCA launched an investigation into discretionary commission arrangements within the motor finance industry, finding that many lenders had been paying excessive commissions to dealers and brokers. This practice often led to inflated interest rates for consumers, with 12.1 million eligible agreements (FCA, March 2026) being affected (FCA estimate) during the investigation period. The total amount of mis-sold finance reached £7.5 billion (FCA, March 2026), with an FCA-estimated average per eligible agreement of £829.
check if your agreement includes "DCA" or "Discretionary Commission Arrangement." If your finance deal was arranged during this period and involves any form of DCA, there is a high likelihood that you were affected by mis-selling practices. It’s crucial to review these details thoroughly to understand the potential implications for your financial agreement.
If you suspect that your Hymer Grand Canyon finance agreement was affected by the FCA investigation, you can complain directly to your lender at no cost. Common lenders for Hymer vehicles include Black Horse, Close Brothers Motor Finance, Lombard, and Billing Finance. Each of these lenders has dedicated teams to handle complaints related to motor finance mis-selling.
To initiate a complaint, reach out to your lender’s customer service department or visit their website to submit an online form. Provide all necessary documentation and details regarding the potential mis-selling, including any evidence you have gathered from reviewing your contract terms. The lender will then investigate your claim according to established procedures and provide a response within a specified timeframe.
You do not need a claims management company to handle this process. Complaining directly to your lender is free and can be an effective way to address any issues with your finance agreement.
Sources and References
- Financial Conduct Authority (FCA). (2024). FCA Motor Finance Investigation.
- Office for National Statistics (ONS) Census 2021.