Reported 27 days ago
Following a recent court ruling that demands car salesmen disclose commissions, UK banks and lenders are acting quickly to prevent a collapse in the car sales market, which has already seen major lending pauses and restructured payment practices. The ruling significantly affects financing for car purchases, raising concerns of a potential market freeze that could harm essential workers who rely on vehicles for their jobs. Key lenders including Lloyds Bank and Honda have paused loans and fees, leading to uncertainty for dealerships and customers alike.
Source: YAHOO