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The leasing broker sector is seeking to demonstrate its resilience and flexibility this year, after the BVRLA broker fleet contracted in 2024. Accounting for over 350,000 vehicles on UK roads, the broker fleet shrunk by 8.9% last year as customer confidence waned due to political and economic uncertainty.

How to handle customer complaints relating to the quality of goods will be the focus of an upcoming workshop, hosted by the Financial Ombudsman Service (FOS). BVRLA members have been invited to join the session which is taking place online from 09:30-12:30 on Tuesday 13 May.

The BVRLA's Leasing Broker Survey report for the year ending December 2024.

The leasing sector held its ground in 2024 in the face of changeable consumer confidence, growing a modest 0.65% year on year. Budgetary constraints and economic uncertainty took hold of some segments, causing demand to go in different directions between personal and business contracts, with a similar divergence between vans (volume down 10.96%) and cars (up 4.9%). 

Following the conclusion of the recent Supreme Court hearing on motor finance - the ‘Hopcraft appeal’ - the BVRLA’s Legal and Membership Director, Shashi Maharaj, has recorded this podcast highlighting key themes and areas of focus. He attended the hearing online each day and has shared insights most relevant to members.

Following the conclusion of the recent Supreme Court hearing on motor finance - the ‘Hopcraft appeal’ - the BVRLA’s Legal and Membership Director, Shashi Maharaj, has recorded a podcast highlighting key themes and areas of focus. He attended the hearing online each day and has shared insights most relevant to members.

The BVRLA’s Legal and Membership Director Shashi Maharaj attended the Supreme Court hearing on motor finance last week. Here, he summarises each days’ proceedings.

Toby Poston, BVRLA Chief Executive comments: Much of the motor finance industry’s attention rests on Lord Reed, Lord Hodge, Lord Lloyd-Jones, Lord Briggs and Lord Hamblen this week.  

The Financial Ombudsman Service (FOS) will implement transitional arrangements for charging case fees to financial businesses before introducing fees for professional representatives from 1 April 2025.

The Supreme Court’s hearing on the motor finance judgment from October is taking place next week. The appeal will run from 1-3 April with a ruling expected in the weeks that follow. The case and its ongoing impact on the sector will lead the agenda of the first Compliance Forum of 2025, taking place on 28 May.

The FCA highlighted that it is pleased to see that the Consumer Duty has further heightened firms’ focus on ensuring good outcomes for customers in a vulnerable situation. Protecting customers in such situation was outlined to remain a key priority for the regulator.