article thumbnail

Car deliveries paused after finance commission ruled unlawful

Autocar

The landmark ruling by the Court of Appeal has thrown banks, dealers and car makers into a state of disarray, given that it effectively bans dealers from profiting on finance deals unless the buyer gives their consent. Among those gearing up for the worst is Lloyds Bank, as the owner of Black Horse, a leading lender of car finance.

Finance 116
article thumbnail

Motability takes £565 million blow as costs soar

Autocar

The package includes road tax, servicing, insurance, breakdown cover, and tyre and windscreen repair. The company, which is owned by four major banks including Barclays and HSBC, blamed rises in the cost of servicing, insurance and new cars, including EVs.

Insiders

Sign Up for our Newsletter

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

article thumbnail

Former Nissan CEO Carlos Ghosn claims Honda is being pressured into merger

CarExpert

per cent to under 36 per cent last year leaving the Japanese brand searching for a long-term, steady shareholder such as a bank or insurance group to provide financial stability. Renault is wanting to further reduce its stake in Nissan having cut its holding from 43.4

Banking 110
article thumbnail

How much does it cost to insure an electric car?

Autocar

What does cost to insure an EV and how can you get those premiums down? Our guide explains all With petrol and diesel cars being phased out in favour of electric cars, increasing numbers of motorists are facing the prospect of insuring an EV for the first time. Is EV insurance different from regular cover? Not always.

Insurance 105
article thumbnail

Buyers set to have longer to complain after car finance commission ruled unlawful

Autocar

The move comes after some car makers paused sales in the wake of the Court of Appeal judgement, which also threw banks and dealers into a state of disarray, given that it effectively bans dealers from profiting on finance deals unless the buyer gives their consent. The lenders are expected to appeal the decision.

Finance 64
article thumbnail

This is the cheapest car insurance in Australia, based on new data

Drive.com

As Australians face rising car insurance costs, new research has identified the insurance company with the most affordable policy prices. Bingle is Australia’s cheapest car insurer in 2024, new research from comparison site Finder has found. ” Want cheaper car insurance?

article thumbnail

Honda, Nissan plotting merger as EV competition rises – report

CarExpert

per cent to under 36 per cent last year leaving the Japanese brand searching for a long-term, steady shareholder such as a bank or insurance group to provide financial stability. Nissan Leaf Renault is wanting to further reduce its stake in Nissan having cut its holding from 43.4 billion yen (~A$3bn) to 32.9

Banking 98