Finance commissions ruling - live updates

Due to the recent court of appeal ruling regarding finance commissions, we are publishing this live blog to keep Auto Trader partners up to date with the latest information as the situation unfolds.

 It has been our mission over many years to drive greater levels of trust and transparency in the automotive market, so that all consumers have the confidence to buy or finance their next car. Whilst we’re supportive of the direction of travel in the Court of Appeal rulings last week, this shock decision has reduced choice and the availability of finance for consumers and caused significant business disruption for our retailer and lender partners.

 While the Court’s judgement and its impact on past sales of finance will very likely be appealed at the Supreme Court, that will take months. What’s urgently needed now by both consumers and the automotive industry is for the regulator to clarify the implications of this ruling to ensure a transparent and functioning market for all. In the meantime, we’re here to support our partners by sharing the latest insights and intelligence available and for consumers through the content and experience on our platforms.

 Automotive finance products are the way most consumers in the UK fund the purchase of their next car, so we need swift direction to ensure this doesn’t harm the industry and unnecessarily dent consumer confidence.

Find the latest information

We are hosting regular webinars and posting information on our blog to keep you informed as things develop. You can read our blogs and access our webinars at the links below.

Check out our webinars below

                                       Click to watch the full webinar

                                       Click to watch the full webinar

                                       Click to watch the full webinar

Check out our blogs below

                                                  Click to read the blog

                                                  Click to read the blog

                                                  Click to read the blog

Current lender status

*** Update 11th November: All finance lenders have now resumed business as usual and are underwriting new finance agreements***

Following the disruption to some finance lenders as a result of the Court of Appeal ruling on commission disclosure, we can now report that we’ve been informed by all finance lenders we work with that any pauses in operation have now been fully resumed.

—————-

We are working with all lenders and brokers to understand their current approach and react accordingly. We will keep this blog post updated as this situation evolves.

Current lenders & Brokers - Currently not accepting new business

• None - all lenders have resumed business as usual

  Current lenders & Brokers - Business as usual

• Northridge

• Zopa

• Moto Novo

• Close Brothers (Core business APIs open, third-party APIs, including Auto Trader, currently unavailable)

• Moneyway

• V12

• Mann Island

• Alphera & BMW Group

• Blue Motor Finance

• Honda FS

• Mercedes FS

• BNP Paribas

• Lendable

• Mallard Vehicle Finance

• Marsh Finance

• Money Barn

• Oodle Finance

• Evolution

• Zuto

• Hyundai Capital

• Mobilize

• Stellantis FS

• TFS

• Volvo Finance

• VWFS

• MBFS

• Black Horse

• Santander

• Credit Agricole

• Oplo/Tandem

• Paragon

• Startline

• Car Finance 24/7

• Car Money

• DSG

• Admiral Car Finance

Useful resources

This section will be updated as more resources become available.

Learnings one week on webinar (6th November) blog summary here

Frequently asked questions blog here

Court ruling on motor finance commissions - Expert panel discussion here

FCA Statement on 13.11.24 here

FCA Statement on 21.11.24 here

FLA Briefing on the matter here

Auxillias advice here