Supreme Court rules on motor finance
The Supreme Court handed down its motor finance judgment on 1 August, ruling in favour of the lenders in two out of three cases.
The combined judgment has narrowed the legal grounds on which customers may seek compensation for historic commission models.
In a partial win for the motor finance industry, the court overturned previous rulings and found motor dealers do not owe a fiduciary duty to customers for whom they facilitate funding for the purchase of a car, nor are they liable to them in the common law tort of bribery.
However, in one case the judges agreed with the argument of an unfair relationship.
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