Car finance crackdown will save buyers £165m, says watchdog

FCA says it will ban commission for brokers linked to interest rate paid by driverBritain’s financial watchdog is cracking down on the way car dealers and car finance brokers make commission on sales, a move that it says will save drivers £165m.The Financial Conduct Authority said it would ban the way some car retailers and brokers received commission linked to the interest rate customers paid on the loan they took out to buy a car. The arrangement means the higher the interest rate,