Motor Finance

Earlier this month I wrote about the current focus on Motor Finance Regulations, especially the growing controversy around PCPs and the associated commission models. Since then, the FCA has announced their intention to ban commission models in Motor Finance that are tied to the customer interest rates, estimating that this could save customers up to…

Speculation is mounting that the car finance industry could be heading for its own mis-selling scandal as fears grow around the way in which Personal Contract Plans have been sold. Recent reports show car dealer Lookers facing large scale mis-selling allegations as more details emerge about the FCA investigation announced in June. One of the…

The publication of the FCA’s final findings on motor finance has raised alarm bells across the industry this week. Their research shows that some consumers have been overcharged by more than £1000 when taking out loans to buy cars. The FCA has suggested that a key problem is commission models which allow brokers to set…