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NFDA response to FCA update on Motor Finance

NFDA 15/10/2019

The Financial Conduct Authority (FCA) has launched a consultation that will be looking at the discretionary finance commission model. The FCA will be consulting on the new rules until 15 January 2020 and plans to publish final rules later in 2020.

Sue Robinson, NFDA Director, said: “Franchised vehicle retailers are committed to helping and providing clarity to the consumer. Clear rules are positive for the industry but we would urge that they are proportionate so there is a satisfactory outcome for both consumers and retailers.  NFDA will be responding in depth to the consultation”.

The National Franchised Dealers Association (NFDA) represents franchised car and commercial vehicle retailers in the UK.

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About the RMI

The Retail Motor Industry represents the interests of operators in England, Wales, Northern Ireland and the Isle of Man providing sales and services to motorists and businesses. The RMI has a formal association with the independent Scottish Motor Trade Association which represents the retail motor industry in Scotland.