What Is Consumer Duty?
Consumer Duty requires firms to deliver good outcomes for retail customers.
It focuses on:
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Products and services
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Price and value
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Consumer understanding
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Consumer support
How It Affects Car Dealers
Dealers arranging finance must show:
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Clear explanations
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No pressure selling
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Suitable finance product
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Transparent documentation
Practical Compliance Checklist
✔ Evidence of affordability consideration
✔ Documented explanation of APR
✔ Disclosure of commission
✔ Fair value assessment
✔ Complaint handling process
Why This Is Commercially Important
Consumer Duty is not just regulation.
It is reputation management.
Dealers who prioritise fairness build sustainable businesses.
