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Have dealers and funding providers cleared COVID-hit car buyers' finance hurdles? am-online.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from am-online.com Daily Mail and Mail on Sunday newspapers.
Click the thumbs up > The Finance and Leasing Association (FLA) has welcomed changes to Financial Conduct Authority (FCA) legislation which will allow motor finance firms to resume car repossessions from motorists who miss regular repayments. The FCA announced yesterday (January 13) that car finance providers and other lenders, who had been banned from making repossessions during the COVID-19 coronavirus crisis, can resume seizures of vehicles and goods for non-payment from January 31. Commenting on the Financial Conduct Authority’s proposed update to the guidance on repossessing vehicles, Adrian Dally, head of motor Finance at the FLA, said: “This is a welcome move as it allows lenders and consumers to decide together on the best outcome. ....
• Year-end new car and van registrations results. • Industry reaction to the Brexit saga and January’s implementation of revised motor finance rules. • The expectations for 2021 and the key steps in a strategy for success. Chaired by AM editor Tim Rose, he will be joined by senior executives from the motor retail industry, who’ll share their own experiences and learnings from Q4 2020 and outline some ways dealers can get a strong start to 2021. Rose said: “Despite all the challenges UK motor retail has closed the year strongly, and there are learnings to be had that can be used in 2021 as the car markets continue to recover. ....