Dealers are advised to engage with their finance provider partners now. Do they envisage any changes to the availability or cost of finance, or changes to lending / customer acceptance criteria, following a no-deal Brexit? If so, what are they precisely and how will they impact the dealer's day-to-day operations?
Additionally, are your finance provider partners changing documentation? Have these changes been communicated to the dealer? What are the implications of these changes and do customer-facing finance colleagues need to be aware of them?
This document provides possible/general perspectives for members to consider in the context of a no-deal Brexit. The precise scope of such an outcome is not clear and would, in any event, still result in huge uncertainty. This note does NOT constitute legal advice. It is not exhaustive. Members should seek their own legal advice (based on their own circumstances) before acting.