The Roller Team Kronos motorhome was commonly sold on Personal Contract Purchase (PCP) and Hire Purchase (HP) finance agreements during the Financial Conduct Authority's (FCA) investigation period, which ran from 6 April 2007 to 1 November 2024. This investigation uncovered widespread mis-selling practices in the motor finance industry, affecting millions of consumers who took out finance for their Roller Team Kronos and other vehicles.
How the Roller Team Kronos Was Typically Financed
The Roller Team Kronos motorhome was often financed through PCP agreements with terms ranging from 48 to 120 months. Common lenders providing finance for these agreements included Black Horse, Close Brothers Motor Finance, Lombard, and Billing Finance. The typical finance amount ranged from £40,000 to £80,000 (FCA estimate), reflecting the high cost of this luxury motorhome.
PCP agreements often include a balloon payment at the end of the term, which is a lump sum that must be paid to own the vehicle outright. This final payment can be substantial and may require an additional loan or savings to cover it. It's crucial for customers to understand all the terms and conditions before entering into such an agreement.
The FCA Motor Finance Investigation
The FCA investigation into motor finance uncovered significant issues with discretionary commission arrangements, which affected millions of consumers who financed their vehicles through PCP and HP agreements. According to the FCA estimate, 12.1 million eligible agreements (FCA, March 2026) potentially mis-sold during this period (FCA estimate), resulting in an estimated total loss of £7.5 billion (FCA, March 2026) across all affected customers (FCA estimate). The average customer lost around £829 due to these practices (FCA estimate).
The investigation found that many finance companies paid discretionary commissions to vehicle dealers and brokers, which could incentivise them to push higher-cost financing options on consumers rather than recommending the most suitable or affordable option. This led to customers often being unaware of better alternatives available in the market.
- Dates: Ensure that your finance agreement was taken out between 6 April 2007 and 1 November 2024 (FCA estimate).
- Discretionary Commission Arrangement (DCA): Look for the term "discretionary commission arrangement" or any mention of commissions paid to dealers based on the type of finance agreement you took out.
If your agreement matches these criteria, it may be one of those affected by the FCA investigation. You can also contact your lender directly to inquire about whether your agreement was part of this scheme.
Many customers who financed their Roller Team Kronos motorhomes through Black Horse, Close Brothers Motor Finance, Lombard, or Billing Finance may have been affected by the FCA investigation. If you believe that your finance agreement was mis-sold, it is important to know that you can complain directly to your lender without needing a claims management company.
When contacting your lender, request a copy of your original finance documents and any correspondence regarding discretionary commissions. Explain clearly why you believe your agreement may have been affected by the FCA findings. Lenders are required to respond to such complaints within a reasonable timeframe.
You do not need a claims management company to handle your complaint; many lenders provide free support for resolving these issues directly with their customer service teams or through their official complaints process.
Towed caravans are NOT covered by the FCA motor finance scheme. Only self-propelled motorhomes with their own engine and drivetrain, such as the Roller Team Kronos, are in scope for the FCA investigation.
Sources and References
- Financial Conduct Authority (FCA). "Motor Finance Investigation." Retrieved from [FCA website] on 2024.
- Office of National Statistics (ONS) Census 2021.