RE: Black Horse Ltd - Discretionary Commission23 Jan 2024 13:35
Eu
'' allowed the credit broker to apply the higher interest rate of the those two interest rates, and where the lender was prepared to lend at the lower rate of interest''
and?
as I have already said , car dealers should have made the the cat buyer fully aware.
It would then be a negotiation between the car buyer and car dealer as to what level of commission the dealer would be prepared to take in order to secure a sale. A car buyer of course is always going to take the lowest interest rate, but if the dealer is not prepared to have a reduced commission, then that lower rate would not be an offer. then the car buyer would decide whether to walk away or not.
i cannot see how Black horse is complicit in swindling a car buyer out of money.
If the authorities think otherwise and that the lowest interest rate should always have been offered with reduced commission, then any increased commission obtained by the car dealer should be reimbursed to Black horse. Common sense