S&U, which provides car finance through Advantage Finance, said trading conditions had been ‘burdened’ over the first half of its financial year.
The company referred to a recent ruling in the Court of Appeal that it was unlawful for car dealers to receive commission from lenders without fully informing customers of the arrangement. This contributed to a 33% drop in advances, meaning short-term credit, so far this year compared with last year.
Hemos resumido esta noticia para que puedas leerla rápidamente. Si estás interesado en la noticia, puedes leer el texto completo aquí. Leer más: