Lloyds Banking Group, which owns Black Horse Motor Finance and Lex Autolease, has put another £700 million into its pot for potential compensation while it awaits the outcome of the car loan commission saga at the Supreme Court.
Aston Martin has selected Lloyds Banking Group as its retail finance provider for UK car sales.
The majority of car buyers are satisfied with their experience buying finance from dealers, according to research by JudgeService.
Lloyds Banking Group has allocated £450 million to cover potential expenses related to regulatory investigations into historic motor finance commission deals.
Scotland's supreme civil court has ruled a car buyer can insist on a refund on a faulty car which he continued to drive after rejecting it.
This month’s AM Live will feature an interactive panel discussion that will explore how to unlock future opportunities through automotive finance.
Over the coming years, we will see vast changes as the Government improves the necessary infrastructure, and we can help to alleviate myths and provide reassurance to customers.
I want to reflect on the turbulent journey used car prices have taken over the past 18 months and where we may expect them to go during the rest of this year.
In the general insurance (GI) publication, the FCA highlighted risks that can lead to customers purchasing inappropriate products, paying excessive prices or receiving poor service.
The FCA’s concern is that some lenders’ affordability assessments are not aligned with the latest guidance issued as part of its Policy Statement 18/19.
The FCA feels some lenders are not taking reasonable steps to manage intermediaries’ adherence to the rules in the Consumer Credit sourcebook (CONC).
The FCA’s concern was around intermediaries, brokers and dealers not divulging key product features and other regulatory disclosures.
Last month, I commented on the forthcoming FCA motor finance market study, in particular on commission structures. I wanted to reflect on discussions I have had across the market.
My key reflection is that the market has progressively adopted higher standards over the past three years.
To be successful in 2019, I believe we need to focus on affordability, commission structures, informed decisions and digital technology
The challenge remains to ensure customers understand what they are buying when it comes to point-of-sale finance, with many still not clear on pricing, residual values and other technicalities of their contracts.
Lloyds Banking Group's leasing division Lex Autolease will be headed from November 1 by Richard Jones, current managing director of Black Horse,
Our drive to create a more informed consumer regarding fuel options must continue.
Lex Autolease: Greener Futures videos
The Government Road to Zero strategy is a good document and much more balanced than some of the focus and messaging we have seen on the subject.
