PPI changes 'could affect motor industry'

Those working in the motor insurance industry could find it difficult to sell payment protection if proposed changes requiring a 14-day cooling-off period following the sale of finance are brought in, it has been claimed.

According to the Retail Motor Industry National Franchised Dealers Association (NFDA), proposals made by the Competition Commission - aimed at sharpening contest in the payment protection insurance (PPI) market - will leave car dealers and their customers worse off.

Sue Robinson, director of the NFDA, said: "[The proposals] could make it very difficult for car dealers to sell these products to their customers and lead to consumers leaving themselves unprotected in the event of an inability to repay a loan."

Ms Robinson went on to say that the move could negatively impact how Britons feel about buying cars, adding that unless they feel they are able to repay loans even in the worst circumstances they are unlikely to return to showrooms.

Last week, IT industry analyst IDC suggested that sales productivity within a number of global firms is restricted by limited preparation strategies.

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Filed: 17-11-2008