Irresponsible PCP sales investigated by FCA

Franchised dealers have made huge efforts to be compliant with consumer credit rules; they are highly regulated and can only offer car finance under strict conditions. So says NFDA director Sue Robinson, commenting on the FCA enquiry into motor finance.

The FCA is to carry out an exploratory enquiry into motor finance as it believes that there might be conflicts of interest and irresponsible lending in the sector. The NFDA is examining the issue. Mrs Robinson continued: “PCPs and other types of motor finance have been around for over 20 years and have become extremely popular as they represent affordable and flexible ways of purchasing new cars.

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