Rapido motorhomes, manufactured in France, were commonly sold on
Personal Contract Purchase (PCP) and
Hire Purchase (HP) finance agreements during the period covered by the Financial Conduct Authority's (FCA) investigation into motor finance mis-selling practices from 6 April 2007 to 1 November 2024. The FCA’s probe found that these financing arrangements often involved
discretionary commission payments, which could have led to inflated interest rates and other fees for consumers.
How Rapido Motorhomes Were Financed
Rapido motorhome owners typically sought finance from well-known lenders such as
Black Horse,
Close Brothers Motor Finance,
Lombard, and Billing Finance. These agreements were structured with either PCP or HP terms, which allowed buyers to pay monthly instalments towards the purchase price of their vehicle. Under these plans, consumers would often make lower initial payments but higher final balloon payments or option-to-purchase fees.
The FCA Motor Finance Investigation
The FCA investigation uncovered that some lenders and manufacturers engaged in discretionary commission arrangements during the sale of Rapido motorhomes on finance. These practices led to inflated interest rates and additional costs for customers, affecting an estimated 12.1 million eligible agreements (FCA, March 2026) across the UK market. As a result, lenders were required to refund consumers who had been overcharged under these schemes, with FCA-estimated average per eligible agreement of £829. The total amount of refunds issued is estimated at £7.5 billion (FCA estimate).
You can complain directly to your lender without the need for a
claims management company. Common lenders such as Black Horse, Close Brothers Motor Finance, Lombard, and Billing Finance all have procedures in place to handle complaints related to motor finance mis-selling practices. By contacting these lenders directly, you can initiate the process of having your agreement reviewed and potentially receiving any refund due to you under the FCA scheme. Remember that you do not need a claims management company for this process; it is free and straightforward.
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 of National Statistics (ONS) Census, 2021
FCA Compensation: FCA Scheme Figures
The FCA confirmed on 30 March 2026 that 12.1 million motor finance agreements are covered by the FCA redress scheme. The FCA-estimated scheme average of £829 per eligible agreement per agreement, with a total of £7.5 billion set aside for consumers. The scheme covers PCP and HP agreements entered into between 6 April 2007 and 1 November 2024.
Two separate schemes apply: post-2014 agreements (implement by 30 June 2026) and pre-2014 agreements (implement by 31 August 2026). The final deadline to complain is 31 August 2027. You can complain to your lender directly for free. You do not need a claims management company.