Carmakers to Skirt a Crash in £11bn Motor Finance Redress

NFDA urges dealers to prepare for lender redress scheme

The National Franchised Dealers Association (NFDA) is advising members to begin readiness planning ahead of any formal announcement regarding a potential lender redress scheme. A formal announcement is expected in the coming weeks. Sue Robinson, Chief Executive of the National Franchised Dealers Association, said: “As discussions continue around potential lender redress schemes, we are encouraging retailers to begin preparing now for the possibl…

Carmakers to skirt a crash in £11bn motor finance redress

UK carmakers are set to curb a hefty hit in the City regulator’s forthcoming redress scheme for the motor finance scandal. Captive lenders, in-house lenders of manufacturers, are to be granted some reprieve by the Financial Conduct Authority (FCA) after relentless lobbying that the scheme could hamper investment in the UK. The FCA was forced to kick back the deadline for its car finance redress scheme last year as opposition from both consumers …

Motor finance redress scheme imminent, says NFDA

The National Franchised Dealers Association is urging retailers to prepare for the launch of the motor finance redress scheme. The Financial Conduct Authority will introduce the scheme in the coming […] The post Motor finance redress scheme imminent, says NFDA first appeared on Bodyshop Magazine.

NFDA urges dealers to ready for motor finance redress scheme launch

Retailers should be stepping up their planning for the imminent launch of the motor finance redress scheme, says NFDA