On 14 May the FCA announced plans for a new Consumer Duty. Its consultation paper sets out proposals for a higher level of consumer protection in retail financial markets to which it expects firms to...

In a year dominated by the Covid-19 pandemic and its lockdown conditions, car sales fell back. However, while new car registrations fell 29.4% in 2020, used car sales only reduced by 14.9%. The trend...

The Government has announced that it is cutting the grants available to people buying a new electric vehicle (EV) from £3,000 to £2,500 and restricting grants to cars under £35,000. It will...

The re-opening of dealer showrooms is coming and dealers must use the time available now to get ready. Certainly, there will be physical distancing changes, which we saw in place in periods of last...

I am a self-confessed petrolhead and I’ve been in this industry that I love for over thirty years. In drafting this article, my motivation is to sustain the industry. I hope that we can disrupt the...

28 January is a pivotal opportunity for motor finance to reinvent itself and create a new level of consumer trust and confidence in the dealer finance model. It is also a significant opportunity to...

The Financial Ombudsman Service (FoS) set out its five-year strategy in early June. In its three strategic priorities, the Ombudsman highlights the prevention of complaints and unfairness prominently....

Covid-19 has been tough for the dealer community, but looking at things optimistically, it can be the catalyst for positive change. It is time for dealers to seize the initiative, re-engineer their...

The FCA has issued draft temporary guidance for finance firms who have customers facing temporary payment difficulties on motor finance products. The guidance sets out the FCA’s expectation that...

The FCA has acted to protect those buying motor finance, with the announcement that it intends to ban the way in which some car retailers and other brokers in the motor finance sector receive...

In its review of the motor finance market, the FCA has thrown down the gauntlet to lenders and dealers to improve the customer proposition and experience. So says MotoNovo Finance CEO Mark Standish,...