“The results of that will be announced tomorrow and will be in place next week.”
These are three month payment holidays, and apply to car finance, including PCP, lease and HP. It also applies to pawnbroking, buy-now-pay-later and rent to town.
However, Martin warned: “The interest rate is quite high so only do it if it’s an emergency.”
He went on: “These rules are only going to come in after they’re announced tomorrow, some time next week.”
Speaking to those how have attempted a deal or holiday on their car payments, Martin said: “If they don’t give you a good enough deal go back after the regulations are announced.”
Published at Thu, 23 Apr 2020 19:29:00 +0000