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

edited 15 October 2019 at 10:36AM in Motoring
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Former_MSE_NaomiFormer_MSE_Naomi Former MSE
519 Posts
Second Anniversary First Post I've been Money Tipped! Newshound!
MSE Staff
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...
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'Clampdown on car finance commission 'to save drivers £165m''
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  • Car_54Car_54 Forumite
    7.6K Posts
    Eighth Anniversary 1,000 Posts Name Dropper
    £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.
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