Motor Finance

We work with the majority of the main industry players.  We have strong relationships with trade associations, including the Finance & Leasing Association and the Consumer Credit Trade Association, meaning we can provide market insight to inform your decisions.  Team members have, for a number of years, provided training to the industry, and spoken at industry conferences and committee meetings.

Our team includes former in-house lawyers to regulators.  We know what it is like to be in your position; we tailor our advice to meet your needs.  Our team advises on both contentious and non-contentious issues: each contentious issue is looked at through a regulatory lens and all non-contentious issues firmly have contentious risks in mind.

Our recent experience includes:

• Advising a number of motor finance providers, introducers and dealers on their strategy for dealing with claims and complaints attacking the way in which they do business (for example, motor finance commissions, irresponsible lending and lending documentation and processes), and their interactions with both the Financial Ombudsman Service and the Financial Conduct Authority.
• Advising a number of motor finance providers facing diesel emissions claims and threatened (and actual) group litigation orders.
• Acting for a number of motor finance providers, introducers and dealers in complex title disputes (including the application of the Hire Purchase Act 1964 on novel points of law), claims for breaches of implied terms (including satisfactory quality and fitness) and wrongful interference claims.
• Drafting plain English motor finance documentation (including hire purchase, PCP, conditional sale, lease purchase, contract hire and loans) for use by motor finance lenders and ancillary documentation (including introducer agreements and seller invoicing terms).
• Advising a number of motor finance providers, introducers and dealers on distance selling of motor finance (including advising on the differing legal framework for regulated credit agreements providing finance of more than £60,260).
• Reviewing customer facing documents for motor finance providers in light of the FCA’s consumer duty and the requirement to act to deliver good outcomes to retail customers.
• Advising a number of motor finance providers on financing of electric vehicles and accessories (including advising on multiple agreements and add ons (including add-ons not financed by the agreement)).
• Reviewing a number of motor finance lenders’ documents for compliance with the consumer credit regulatory framework both for such providers and their funders.
• Advising a number of motor finance providers on prospective remediation (particularly on potentially non-compliant documentation) and potential unenforceability issues (both on documentation and process).

If you’re a motor finance provider, introducer or dealer and need any help or support, please feel free to get in touch with our Head of Consumer & Motor Finance, Russell Kelsall, or any member of his team.