Clampdown on car finance commission 'to save drivers £165m' - MSE News

Former_MSE_Naomi
Former_MSE_Naomi Former MSE Posts: 519
Second Anniversary First Post I've been Money Tipped! Newshound!
Forumite
edited 15 October 2019 at 10:36AM in Motoring
Motorists are predicted to save around £165 million a year under new proposals from the financial regulator to ban dealers from taking commission linked to the interest rate on car financing...
Read the full story:
'Clampdown on car finance commission 'to save drivers £165m''
OfficialStamp.gif
Click reply below to discuss. If you haven’t already, join the forum to reply.

Comments

  • Car_54
    Car_54 Forumite Posts: 7,817
    Ninth Anniversary 1,000 Posts Name Dropper
    Forumite
    £165,000,000 sounds a lot. But ...
    In round terms, 10million cars are sold annually in the UK (2 millon new, 8 million used). If half of those involve credit, then the average customer may save about £30.

    Forgive me if I don't get too excited.
This discussion has been closed.
Meet your Ambassadors

Categories

  • All Categories
  • 339K Banking & Borrowing
  • 248.7K Reduce Debt & Boost Income
  • 447.6K Spending & Discounts
  • 230.9K Work, Benefits & Business
  • 601.1K Mortgages, Homes & Bills
  • 171.1K Life & Family
  • 244.1K Travel & Transport
  • 1.5M Hobbies & Leisure
  • 15.9K Discuss & Feedback
  • 15.1K Coronavirus Support Boards