Has your car finance deal gone south? Tell us:A bombshell court ruling effectively banning car dealers from making 'secret' commission payments off of vehicle sales has left the UK's vehicle market in stasis - with motorists unable to sign off on deals for new wheels.
Caitlin, 32, from Bathgate in West Lothian, spotted the two-year-old car at Arnold Clark in Fife last week and secured a reservation to see the car - and drive it away - on Wednesday.Car buyers say their vehicle deals have been put on hold as dealerships scramble to ensure their finance agreements comply with the law
Caitlin was only able to see the car and test drive it on Wednesday - but could not sign any paperwork for the finance agreement because it wasn't ready. 'I've been looking at Martin Lewis so I'm going to see if I can do anything about these two other finance contracts - he was saying it's up to £1,100 each,' she added.
'In the meantime, we have updated our customer finance documentation to be in line with the recent court case and we are continuing to trade as normal, giving our customers consistency and access to motor finance should they wish to use this to purchase their vehicles.' Close Brothers, one of the firms at the centre of the Court of Appeal case, has suspended new car loans
Read More Martin Lewis says motorists could be in line for one of the biggest payouts in UK history after more than one million complaints are submitted over car finance The Court of Appeal ruled in favour of three car buyers after they separately took FirstRand Bank - trading as Motonovo - and Close Brothers to court in cases that were later merged.
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Source: DailyMailUK - 🏆 7. / 90 Read more »
Source: DailyMailUK - 🏆 7. / 90 Read more »