Dealers should embrace the new era of the Financial Conduct Authority (FCA) or risk the imposition of a stricter structure which other industry sectors have been forced to adopt, delegates at AM’s new F&I Compliance Conference will be told.
The Financial Conduct Authority (FCA) may seek to remove the point-of-sale advantage from used car motor finance if similar moves with GAP insurance are successful, said James Tew, director at iVendi.
Financial Conduct Authority guidelines and new customer rights legislaton could force dealers to pass on higher prices to customers.
The Financial Conduct Authority (FCA) seems certain to introduce a ‘time to consider’ clause in GAP insurance policies sold at point of sale, which could reduce a valuable revenue source for dealers and F&I providers.
