Consumers face risk from cheap deals

First, there’s nothing wrong with cheap lease deals. They’re brilliant, both for the sector and the consumer looking to make their motoring pounds go further. But while many of the excellent Chinese deals are undoubtedly great value, the underlying risk is the gap to the RV. What happens if the car is stolen or written off in a motoring incident? The consumer faces a potentially big exposure. Talking to one leading leasing broker, he told me they used to provide a facility as part of the aftersales package of selling GAP (Guaranteed Asset Protection) insurance, but when the FCA capped GAP prices in 2024, he had to close the department because it was loss making. It was not the outcome he wanted because it disadvantaged the customer. Sarah Tooze has been looking at the issue of consumer risk and the lack of GAP insurance in our lead story.

Congrats to the AFL team on their hot-hot-hot charity run

Well done to all those AFL staffers who took part in Cancer Research UK’s Race for Life at Windsor racecourse, which took place on Saturday 30 May in really hot temperatures. However, this did not deter the mix of 5km and 10km walkers, joggers, and runners, who were helped along by the prospect of a well-earned picnic and cold cider awaiting them at the finish line! More importantly, AFL raised nearly £5,000 for Cancer Research UK – a fantastic result.