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Extra car finance protections for drivers announced

Motorists are to be even better protected when they take out a car finance deal following the formation of a new police unit, reports Motor Trader.

Motorists are to be even better protected when they take out a car finance deal following the formation of a new police unit, reports Motor Trader.

The new unit was devised by the Association of Chief Police Officers and the Finance & Leasing Association (FLA) and will investigate cases of professional misconduct across England and Wales.

The motivation for the new team was to even better protect car loan customers, as well as boosting the public profile of the industry by making it even more difficult for rogue companies to operate.

"In an ideal world the police wouldn't need private sector resources to enforce the law but we are realists," FLA director general Martin Hall told Motor Trader.

"Our members' answer is to commit their own money to a specialist unit dedicated to investigating frauds against them. This is a commercial decision, and our members, the police and the public will benefit if it succeeds," he added.

Motorists looking to buy a new car or used car can benefit from lower monthly costs by taking out a competitive car loan or car finance deal.

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