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Following from my previous article there has been much confusion for years about warranties provided on used cars. It has been a much held view that a car warranty is an insurance policy and therefore falls within the control of the Financial Services Act. In other words you have to be a regulated advisor to discuss the product and the product itself Read more »

As most of you know the mortgage and financial services industry are regulated by the Financial Services Authority (FSA), for the time being at least until the new structure, as announced by the Chancellor, takes over fully in 2012. Cases of fraud are dealt with by both the FSA and the Office of Fair Trading(OFT) in conjunction with the police. However, whilst the OFT keeps a watching brief over the activities of those Read more »

Now is the time to take great care with the funders, dealers and brokers, both online and offline, that you use to fund your next car. Things are getting tough and having lived through the last recession I know many of the tricks and scams that they all get up to in order to secure life saving orders. Cars are expensive items and great care should be taken over the selection of suppliers. I’ve been in this industry for over 25 years and I am Read more »

A report from the Finance and Leasing Association (FLA) showed that their members financed £5.6billion of consumer expenditure on new cars in 2007 and a third of total expenditure on cars throughout the year. Interestingly, new car finance was named by FLA consumer finance members as the most important use to which consumers put their funds, with used car finance the 4^th most important Read more »

Having been the first to break the news that the takeover of HBOS by Lloyds TSB would also result in the amalgamation of the two contract hire giants Lex and Autolease many are now reviewing what this could mean to the industry. Whilst the takeover still has to be approved by the FSA and needs shareholder approval both MD’s have said that in the meantime it is business as usual. As both companies are Read more »