Retailers could see improved profit from finance sales once the legislation around commission payments has been clarified and finalised, according to Auto Trader CEO Nathan Coe. Speaking to Auto Retail Agenda, Coe said the “finance situation will work itself out, in future it will be more transparent and better for the consumer.” He said that finance was […]

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The shock DCA court ruling “threatens to drive up costs for motorists and – in a worst-case scenario – bring the UK’s £100bn motor sector to a shuddering halt”. The Finance and Leasing Association’s Adrian Dally admitted to the Telegraph that disruption is rife. “We’re all immediately having to restructure to comply with this in […]

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Banks are in a “holding pattern” as the FCA investigates whether there has been systematic harm with discretionary commission models, says Kate Robinson from regulatory adviser Avyse Partners. However, the issue is not “black and white… the responsibility has been pushed towards the banks but the brokers were involved in this process. “From a lender’s point of […]

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Motor finance sales are to come under a new investigation by the FCA which has said it will use its powers under the Financial Services and Markets Act to review historical car finance commission agreements and sales. “Significant dispute” It follows a high volume of complaints and “significant dispute” between some car finance firms and […]

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Management changes within Black Horse’s motor finance team will see Tim Smith assume responsibility for the entire division from the end of April. Smith, who was previously head of motor, north, takes up this newly created role after head of motor, south colleague Paul McGill’s decision to retire later this year and Black Horse’s decision […]

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