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The Financial Conduct Authority (FCA) is the regulator responsible for regulating consumer credit activities across the UK. It's Consumer Credit sourcebook outlines rules governs how regulated consumer credit and consumer hire (leasing products) can be sold to customers.

It’s unlikely. Most motor finance agreements probably won’t allow you to make any modifications unless your finance company has first authorised this – because in most cases, until you have made all the outstanding payments due under the agreement, the finance company will still be the owner of the vehicle. So you should get in touch with your finance company first before you start planning any modifications.

Lenders are currently doing everything they can to assist customers through the pandemic. The FCA has also implemented guidance which requires lenders to provide special support - where customers are suffering from financial difficulties as a result of Coronavirus.

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Yes cars have remained on sale throughout the pandemic period. Where restrictions do not allow dealerships to open cars are still being sold using 'click and collect' and 'delivery services'. Contact a SAF Approved dealer for more information about what measures they have in place to allow you to buy a new car whilst keeping you safe.

Vehicle recovery agents used by lenders should have in place a contactless collection process that allows them to maintain collections during the pandemic period. If there are any issues with your car not being collected your lender should keep you update.

Guarantor lending is a specific type of credit agreement whereby the customer presents risks to the lender and requires another third party to take responsibility for making up any shortfall in repayments if the customer fails to pay. There are various scenarios where guarantor lending applies, including if the customer has little or no credit history or if the customer has a low credit rating or has previously been bankrupt or subject to an IVA.

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