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iVendi on motor finance decision impact on lending

iVendi on motor finance decision impact on lending

Posted on August 5, 2025 By rehan.rafique No Comments on iVendi on motor finance decision impact on lending

The Supreme Court decision on motor finance has immediate consequences for lending happening right now, according to iVendi.

James Tew, iVendi CEO, explained the judgement needed to be examined by lenders and dealers in terms of its impact on not just past but current and future practice.

He said: “Firstly, there remain grey areas around lender relationships with dealers. This is especially true when it comes to co-manufactured finance products, where the dealer influences the rate set and other parameters. If these products are prioritised over others, this needs to be made clear and disclosed to the consumer.

“Secondly, as part of the ‘unfair relationship’ within the Johnson case, the 55% commission paid as a percentage of the total charges was deemed too high, which raises the question of what was excessive commission?”

Tew commented on the question of how to handle “unsophisticated” customers.

He said: “We have worked hard in recent years to include processes within our finance platforms that are designed to protect vulnerable customers and we stand by the quality of this work but there is no real guidance in this area.

“Finance products always have a level of complexity beyond the headline figures and there is a question mark over the relevant information that someone commercially unsophisticated, to use the court’s phrase, needs to be shown. It would be positive to see this codified now rather than ending up as a legal matter in the future.”

Dealers and lenders need to ensure a ‘spirit of honesty and transparency’ behind their motor finance decisions.

Tew said: “The answer we – alongside others in the industry – have been promoting for several years is for an open, multi-lender approach that creates a transparent marketplace where vehicle buyers can make their own finance decisions based on the information they need.

“Dealers and lenders who are hanging on to the old, opaque way of doing business – using captive lender relationships and seeing customer transparency as something to be avoided – are very much living in the past, and could well be the parties that find themselves the subject of future mass claims.”

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