Monday, April 02, 2007
FSA Regulations Being Ignored
Nearly three-quarters of customers are not told about the Financial Services Authority regulations governing finance sales when they buy a new car.
Buyers are not fully informed
A study by FSA Automotive claimed 72 per cent of customers had no recollection of sales staff mentioning FSA procedures when they bought a car from the group – which did not wish to be named.
FSA Automotive’s technical director Tony Hodder said: “More surprising was that only customers who had signed demands and needs statements were contacted.
“I am sure the dealers in question thought they could prove compliance but this practice is not treating customers fairly, which is one of the FSA's biggest priorities for motor retailers.”
DATED: 02.04.07
FEED: MT
Buyers are not fully informed
A study by FSA Automotive claimed 72 per cent of customers had no recollection of sales staff mentioning FSA procedures when they bought a car from the group – which did not wish to be named.
FSA Automotive’s technical director Tony Hodder said: “More surprising was that only customers who had signed demands and needs statements were contacted.
“I am sure the dealers in question thought they could prove compliance but this practice is not treating customers fairly, which is one of the FSA's biggest priorities for motor retailers.”
DATED: 02.04.07
FEED: MT
