Car Finance Holidays

Debt charities have warned families could “face real hardship” over delays in agreeing coronavirus-related car finance payment holidays.

Last week, the industry regulator instructed lenders to offer payment holidays to customers who need them.

But it has been found  that customers of some car finance providers still haven’t been granted breaks, despite asking for the last six weeks.

However the industry body for lenders say they are doing everything they can.

In 2019, consumers borrowed £38bn to finance cars.