The Knaus Sky TI 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 began on 6 April 2007 and concluded on 1 November 2024. This luxury motorhome is a popular choice for those seeking an all-inclusive holiday experience, with typical financing arrangements ranging from £40,000 to £80,000 over terms of 48 to 120 months. It’s important to note that towed caravans are not covered by the FCA motor finance scheme; only self-propelled motorhomes like the Knaus Sky TI are in scope for this investigation.
How the Knaus Sky TI Was Typically Financed
The Knaus Sky TI was often financed through PCP and HP agreements, with typical loan amounts ranging from £40,000 to £80,000. Common lenders who provided finance for the Knaus Sky TI included
Black Horse,
Close Brothers Motor Finance,
Lombard, and Billing Finance. These financing plans usually involved balloon payments at the end of the term, which would be due if you chose not to purchase or refinance the motorhome.
The FCA Motor Finance Investigation
The Financial Conduct Authority (FCA) conducted an extensive investigation into
discretionary commission arrangements in the motor finance industry from 6 April 2007 to 1 November 2024. This investigation uncovered that 12.1 million eligible agreements (FCA, March 2026) by potential mis-selling practices, with a total value of £7.5 billion (FCA, March 2026) and an FCA-estimated scheme average per eligible agreement: £829 (FCA estimate). The FCA found that discretionary commissions paid to dealers could lead to inflated finance charges for consumers.
How to Check Your Agreement First, check the dates of your agreement; if it falls within the period from 6 April 2007 to 1 November 2024, it is likely in scope. look for references to "Discretionary Commission Arrangements" (DCA) or similar terms in your finance contract. These arrangements could indicate that your lender received additional payments based on the volume of agreements they secured.
If you suspect that your Knaus Sky TI finance agreement was mis-sold, you can complain directly to your lender at no cost. Common lenders who provided finance for the Knaus Sky TI include Black Horse, Close Brothers Motor Finance, Lombard, and Billing Finance. These institutions are required by law to address complaints fairly and promptly.
You do not need a claims management company to handle your complaint. Instead, you can contact your lender directly or use their online complaint forms to initiate the process. It is important to gather all relevant documentation, such as finance agreements, payment records, and any correspondence with your lender before initiating your complaint.
Sources and References
- Financial Conduct Authority (FCA). "Motor Finance Investigation: Summary of Findings." 2024.
- Office for National Statistics (ONS) Census. "Population Estimates by Single Year of Age and Sex for Local Authorities in the United Kingdom: Mid-2019." 2021.
- Financial Ombudsman Service (FOS). Annual Report and Accounts, 2023/24.