Consumer champion Martin Lewis has launched a free tool for consumers to use in logging a complaint about discretionary commission agreements (DCAs) in their car loans.
The Serious Fraud Office (SFO) is prosecuting former company directors Reginald Larry-Cole and Scott Martin for fraud in relation to the nationwide car leasing scheme, Buy2Let Cars, which attracted hundreds of British savers to pay in around £88 million.
The Financial Conduct Authority has just told AM it has "no intention of banning GAP Insurance", in response to unsubstantiated reports that the product must be scrapped this year.
Dacia UK is hoping a new lease product, 'Flex', will tempt its Duster buyers into taking two bites of the cherry in 2024, by allowing them to minimise their commitment to long-term vehicle ownership.
The Financial Conduct Authority has appointed a third-party independent expert to consult with car loans firms as the regulator progresses its review of historic discretionary commission arrangements.
Private equity firm Keyhaven Capital Partners has agreed to sell its equity stake in independent collision repair group Steer Automotive to Oakley Capital.
Two recent car loan misselling cases heard by the Financial Ombudsman Service (FOS) against Black Horse Motor Finance and Barclays Partner Finance have been mentioned by the FCA as particularly influencing its decision to dive deeper into this issue.
Monthly figures from the Finance & Leasing Association (FLA) show that new consumer car finance business volume fell 7% in November compared to 2022.
The Financial Conduct Authority could implement a simplified claims process if it deems there has been widespread unfair treatment of car buyers due to discretionary commission agreements between lenders and car dealers or brokers.
The Financial Conduct Authority has announced it is looking deeper at historical agreements between motor finance companies and their brokers or car dealers because of mounting complaints, some of which have been upheld by the Financial Ombudsman Service. But what is causing its concern?
Historical arrangements used by motor finance firms to pay commission to car dealers and brokers are being reviewed by the Financial Conduct Authority in case consumers have not been treated fairly.
Close Brothers Premium Finance (CBPF) has signed an exclusive deal with broker The Green Insurer
The Competition and Markets Authority (CMA) has handed a £2.5 million fine to vehicle salvage firm Copart for ignoring the regulator's orders.
The pressure on UK motor retailers to identify vulnerable customers ahead of the motor finance sales process has increased since the arrival of the latest regulatory regime, and Jonathan Barrett, chief executive of Comentis, shares his thoughts on what this means for regulated firms.
Retail software house Automotive Transformation Group (ATG) is working with iVendi to enable dealers to offer an advanced consumer journey
Phillip Williams, founder and non-executive director at Oodle Car Finance, looks at what Consumer Duty means in practice and offers some pointers on navigating the new regulations.
While watched by the Financial Conduct Authority, finance and insurance still delivers welcome profit for car dealers. Debbie Kirlew reports
An artificial intelligence system is set to help Oodle Car Finance to identify vulnerable consumer credit customers and to ensure its staff adapt their behaviours accordingly.
Mike Todd, chief executive of Volkswagen Financial Services UK, ponders the need for motor retail to offer options which cater for all preferences, now and in the future.
This month’s AM Live will feature an interactive panel discussion that will explore how to unlock future opportunities through automotive finance.
The Financial Conduct Authority (FCA) has moved to protect those in financial difficulty by requesting unregulated buy-now-pay-later BNPL firms to make changes to potentially unfair and unclear contract terms as new research reveals a significant increase in the use of short term financing.
ATG and account-to-account payment specialist Vyne have been able to cut retailers’ transaction fees by up to 73% with open banking technology.
Darren Sinclair, iVendi chief customer officer, shares his views on some of the crucial factors that will determine Chinese OEM success in the UK.
Cambria Investment Holdings has recruited Mike Allen to head its new investment company Cambria Private Capital.
Monthly subscriptions are becoming the preferred payment method for car buyers purchasing maintenance plans, according to a business specialising in managing manufacturer service plans
