Iveco Van Finance Mis-Selling - FCA Investigation

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Iveco Van Finance Mis-Selling - FCA Investigation

Last updated: 26 February 2026

Iveco vans, manufactured by Italy's Iveco, were commonly sold on Personal Contract Purchase (PCP) and Hire Purchase (HP) finance agreements during the Financial Conduct Authority (FCA) investigation period from 6 April 2007 to 1 November 2024. This investigation uncovered significant issues with discretionary commission arrangements used by many lenders in the motor finance sector, affecting millions of consumers.

How Iveco Vans Were Financed

Iveco vans were often financed through leading motor finance providers such as Black Horse, Lombard, Close Brothers Motor Finance, and Hitachi Capital Vehicle Solutions. These agreements typically included terms like Personal Contract Purchase (PCP) or Hire Purchase (HP), which allowed buyers to make monthly payments for a set period before either returning the vehicle or purchasing it outright.

The FCA Motor Finance Investigation

The FCA investigation revealed that many finance providers engaged in discretionary commission arrangements, where dealers were incentivised with additional commissions based on specific features of the loan agreement. This practice led to consumers being pushed towards more expensive and complex financing options. It is estimated that 12.1 million eligible agreements (FCA, March 2026) across the UK were affected by these practices, resulting in a total overcharge of £7.5 billion (FCA estimate) for customers (FCA, March 2026).

How to Check Your Agreement Look for signs that you were offered a higher rate or additional costs beyond what was initially expected. The investigation period covers agreements from 6 April 2007 to 1 November 2024, so any agreement within this timeframe could be impacted.

How to Complain Directly to Your Lender for Free

If you suspect your finance agreement is affected by the FCA's findings, it is important to complain directly to your lender. Common lenders for Iveco vans include Black Horse, Lombard, Close Brothers Motor Finance, and Hitachi Capital Vehicle Solutions. These companies have established procedures in place to handle complaints related to motor finance mis-selling issues. You do not need a claims management company; you can contact the lender directly through their customer service or complaint resolution team. The [Financial Ombudsman](https://mlj.org.uk/guides/financial-ombudsman-service) Service (FOS) provides guidance on how to submit a complaint, and it is advisable to follow these guidelines for a smoother process.

Sources and References

FCA estimates: 12.1 million eligible agreements (FCA, March 2026), £7.5 billion total overcharge, £829 average per eligible agreement.
Financial Conduct Authority reports and investigations.
Financial Ombudsman Service guidance on motor finance complaints.
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.

Iveco MOT Pass Rate - 2024 Data

Across 42,161 MOT tests in 2024, Iveco vehicles have an overall pass rate of 74.6%. This is below the national average of 79.6%. DVSA data covers 43 Iveco models with sufficient test volume.

Overall pass rate: 74.6%
Total MOT tests (2024): 42,161
Models with data: 43
National average: 79.6%

Best Iveco models for MOT pass rate

Iveco Daily 35C14B: 82.1% pass rate (732 tests)
Iveco Daily 35S14B: 80.4% pass rate (648 tests)
Iveco Unclassified: 79.7% pass rate (1,125 tests)
Iveco Daily: 75.0% pass rate (30,830 tests)
Iveco Daily 35S11 Mwb: 70.7% pass rate (564 tests)

Iveco models with lowest MOT pass rate

Iveco Unclassified: 79.7% pass rate (1,125 tests)
Iveco Daily: 75.0% pass rate (30,830 tests)
Iveco Daily 35S11 Mwb: 70.7% pass rate (564 tests)
Iveco Daily 35C12 Mwb: 66.4% pass rate (654 tests)
Iveco Daily 35S12 Mwb: 64.4% pass rate (531 tests)

Iveco MOT Reliability Trend (2022-2024)

Iveco has been getting more reliable, improving from 72.9% in 2022 to 74.6% in 2024 (+1.7 percentage points).

2022: 72.9% pass rate (48,853 tests)
2023: 73.6% pass rate (47,844 tests)
2024: 74.6% pass rate (42,161 tests)

Based on 138,858 MOT tests across three years (DVSA open data).

Data source: DVSA anonymised MOT test results 2024, Open Government Licence v3.0.

Frequently Asked Questions

How many Iveco van finance agreements might have been mis-sold?

From 6 April 2007 to 1 November 2024, it is estimated that around 3 million motor finance agreements were mis-sold in the UK (FCA estimate). Given this broader context and considering Iveco's market share, there could have been a significant number of affected customers with their vehicles.

What are some signs that an Iveco van motor finance agreement might be mis-sold?

Signs of mis-selling include being approved for a loan you cannot afford, excessive pressure to purchase add-ons like GAP insurance or service plans, and not receiving all required information about your contract before signing. If any of these apply to your situation with an Iveco van finance agreement, it may be worth reviewing the terms.

How can I complain if I believe my Iveco van motor finance agreement was mis-sold?

You can complain directly to your lender for free. It is important to gather all relevant documents and evidence that support your case before contacting the lender's customer service or complaints department.

Do I need a claims management company to challenge an Iveco van motor finance agreement?

You do not need a claims management company to challenge what you believe is a mis-sold motor finance agreement for your Iveco van. You can handle the complaint process yourself by contacting the lender directly or seeking advice from free resources available online.

Important: MLJ.org.uk is an independent information resource. We are not a claims management company, solicitor, law firm, or financial adviser. We do not process claims, take fees, or provide advice. Where the law gives you a right to complain or claim directly (to a lender, council, FOS, court, or regulator), you can do so without paying a third party. MLJ.org.uk is operated by Copious Ltd, registered in England and Wales, company number 11437826.