Music and sneezing a hazard for drivers
16 May 2012
Tue, 29 May 2007
According to the NFDA (National Franchised Dealers Association), car dealers who previously sold finance are now shunning the products, due to over-regulation by the current government.
The Financial Services Authority, the regulatory board for financial services products, introduced stiff legislation in 2005. Now, according to the NFDA, the level of vehicle dealers with FSA accreditation has slumped to just 54 per cent, down from 76 per cent in 2005.
The head of business development at the NFDA, Louise Wallis, reportedly commented: The complexity and cost involved in being authorised is clearly putting many dealers off. Many in the motor trade believe that they should never have been included in the regulations in the first place.
The car finance market is a diverse financial sector, with many experts advocating personal loans for car finance .
