Finance body calls for three-month freeze on car payments

Motorists struggling to afford car finance due to the Covid-19 pandemic will be granted a payment holiday under measures proposed by the City watchdog. The measures are part of wider plans targeted at payday loan companies, pawnbrokers and operators of buy-now-pay-later finance schemes. Christopher Woolard, interim Chief Executive at the FCA, said: “We are very aware of the continued struggle people are facing as a result of the pandemic.