A motor vehicle is probably the second most expensive purchase made by
most adults. Some may be lucky enough to purchase out of ready cash, but
the majority will access finance of one sort or another. The recent
growth in PCP and PCH arrangements, fuelled by the demise of the company
car, has accelerated the trend away from old style HP; consumer credit
legislation has become ever more fragmented and complex with the onset
of the EU Consumer Credit Directive and FCA regulation, and the Consumer
Rights Act 2015 radically restructured the application of implied terms
for quality and fitness in consumer contracts. The law applying to the
finance of motor vehicles covers a wide ground, and barely a year seems
to pass without some update of, or other change to, an essential element
of it.
Getting to grips with the breadth of relevant law, and keeping up with
the changes can be hard enough for specialist lawyers. For the busy
general practitioner faced with the occasional query, or finance
industry employee wanting to expand their practical knowledge, getting
an overview of the legal issues can be almost impossible. The intention
of this book is to provide that overview. Less a detailed exposition and
more a high level guide, it offers the reader a chance to see the full
picture and a foundation on which to build a deeper understanding of the
legal issues which govern this area.
The author has spent 25 years working in the finance industry, with
particular experience in motor vehicles. Starting out as a litigator,
and latterly working as a regulatory and contracts specialist, he has
both a contentious and non-contentious understanding of all the central
issues which affect both motor vehicle finance companies and their
customers
ABOUT THE AUTHOR
Richard Humphreys is a partner in Blake Morgan's banking and finance
team. He has specialised in finance industry work for more than 25
years, and has particular experience in advising equipment finance
lessors and motor vehicle financiers.
