Motorists hoping for big payouts for financial mis-selling by major car makers' associated arms look like losing out after all. Media reports this week indicated the Financial Conduct Authority has come down on the side of the car makers' finance providers and big banks to reject payments to customers. Under the plan said to be going through final stages … [Read more...]
Newslines 9 February
Car dealers face becoming the focus of a new customers financial scandal similar to PPI claims of the last two decades. The Financial Conduct Authority is investigating cases of finance houses not paying out compensation to customers over now-banned ‘discretionary commission arrangements’ and the watchdog is using its powers under S166 of the Financial … [Read more...]
Car sales are rising but beware of finance costs
More than half of UK drivers (51%) are intending to buy a new or used car in the next six months, now that showrooms have re-opened and travel curbs are lifting said comparethemarket.com. Drivers are set to spend an average of £15,042 on these cars, with 39% planning to buy either an electric or hybrid vehicle. The main reasons that drivers cite for … [Read more...]
