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  • FIRST POST
    • MSE Megan F
    • By MSE Megan F 15th Mar 18, 1:45 PM
    • 395Posts
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    MSE Megan F
    MSE News: FCA to mystery shop car finance firms
    • #1
    • 15th Mar 18, 1:45 PM
    MSE News: FCA to mystery shop car finance firms 15th Mar 18 at 1:45 PM
    Car finance firms are to be tested on if they give enough information to buyers about risks involved, and whether the commission paid to dealers could harm consumers...
    Read the full story:
    'FCA to mystery shop car finance firms'

    Click reply below to discuss. If you haven!!!8217;t already, join the forum to reply.
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    • neilmcl
    • By neilmcl 15th Mar 18, 2:31 PM
    • 12,909 Posts
    • 9,669 Thanks
    neilmcl
    • #2
    • 15th Mar 18, 2:31 PM
    • #2
    • 15th Mar 18, 2:31 PM
    The full details, for anyone interested, include the FCA update can be found here - https://www.fca.org.uk/news/news-stories/our-work-motor-finance

    It sound's like generally the FCA are pretty much happy with the situation so far, no PIP type scandal then.
    Last edited by neilmcl; 15-03-2018 at 2:36 PM.
    • Ectophile
    • By Ectophile 15th Mar 18, 7:34 PM
    • 3,578 Posts
    • 2,287 Thanks
    Ectophile
    • #3
    • 15th Mar 18, 7:34 PM
    • #3
    • 15th Mar 18, 7:34 PM
    I suspect the problem is not with the finance companies themselves, but with the dealers who have a financial incentive to pull the wool over customers' eyes in order to sell more cars.

    After pension mis-selling and PPI, finance companies are very wary of doing anything wrong.
    If it sticks, force it.
    If it breaks, well it wasn't working right anyway.
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