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...]
Law firms are facing possible action from the FCA
The Financial Conduct Authority has warned law firms representing clients involved in motor finance commission claims they must act in the claimants' best interest and not charge exorbitant exit fees. The watchdog has teamed up with the Solicitors Regulation Authority to make sure that all rules are being followed, as claims continue to build up and say … [Read more...]
Cybercrime increasing threat to dealers
Specific weaknesses place the remarketing sector under increased threat from cybercrime, Vehicle Remarketing Association members heard at their first meeting of 2026. Mark Rodbert, CEO at idax Software, explained that rapid staff turnover in environments such as dealerships made it challenging to create a cybersecurity-aware culture, while the large amount … [Read more...]
Financiers must support EV sales
Almost all dealers (97%) surveyed in June’s Startline Used Car Tracker say that more support is needed from motor finance providers for electric vehicle (EV) funding. In the research, 52% say their lenders are less keen to finance EVs, 45% charge higher finance rates and 21% want higher deposits. Also, 14% say their lenders won’t finance EVs at … [Read more...]
Newslines 16 June
Britain’s first end-to-end online car maintenance service provider revealed national survey results which show that UK drivers have not prepared their vehicles for summer holidays. Results from a national Fixter survey shows that 70% of Fixter customers are planning to spend their holidays in the UK this year and will rely on their cars for road-trips and … [Read more...]
