Rejected petition Prevent suppliers from monopolising consumer access to other finance providers

Several vehicle suppliers are continually refusing to provide invoices to independent finance providers and essentially blocking the consumer from access to whole of market finance choice. This is wholly unfair and goes against all of the FCA's Treating Customers Fairly principles.

More details

Working for an independent bank, we have experienced more and more suppliers of vehicles, refusing to provide invoices / accept funds from independent funder's (even if the consumer has been refused finance from their 'in-house' finance provider). This must go against the principles of Treating Customers Fairly and is essentially giving the suppliers a monopoly over finance choices for their vehicles.

This petition was rejected

Why was this petition rejected?

It’s about something that the UK Government or Parliament is not directly responsible for.

We can only accept petitions about things the Government or Parliament are directly responsible for.

Decisions about what finance providers to accept payment from are a matter for individual businesses, not the UK Government or Parliament.

We only reject petitions that don’t meet the petition standards.

Date submitted 14 April 2023
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