Arranging car finance is about more than finding a payment you can afford each month. You also need to know that the company lending you the money follows strict rules that protect you before, during and after the agreement. In the United Kingdom, those rules come from the FCA official site.
Since 31 July 2024 every consumer-credit lender must also meet an extra layer of protection called the FCA Consumer Duty — a single standard that says firms must deliver good outcomes for customers at every stage.
The guide below explains what the FCA does, how the Consumer Duty strengthens your rights, and the practical steps FCA-authorised specialist Go Car Credit takes so you can borrow with confidence—even if your credit file is less than perfect.
1: Who is the FCA?
The Financial Conduct Authority is the UK’s independent conduct regulator for almost 50,000 financial services businesses, large and small. It:
- licenses firms before they are allowed to trade,
- checks they treat customers fairly, and
- can fine or even close companies that break the rules.
For a deeper look at its day-to-day work, visit the FCA official site (see link above).
2: The FCA’s three legal objectives
- 1. Protect consumers – keep harmful firms and individuals out of the market and act fast if misconduct occurs.
- 2. Protect market integrity – make sure UK financial markets are sound, transparent and reliable.
- 3. Promote competition – encourage choice and innovation so customers can secure better value.
These aims are written into law and guide every FCA decision.
3: What is the Consumer Duty?
The Consumer Duty is the FCA’s new gold standard for retail finance. It requires firms to:
- design products that genuinely meet customers’ needs,
- provide fair value (no hidden or excessive charges),
- communicate in plain, timely language, and
- give easy-to-reach, effective support throughout the loan term.
In short: the firm—not you—must prove that you have been treated fairly from start to finish. Full, plain-language details sit on the FCA Consumer Duty page (see link above).
4: How the Duty protects car-finance customers with bad or limited credit
- Transparent totals – you must see the full cost (interest plus any fees) before signing.
- Evidence-based pricing – if your rate is higher because you are a greater risk, the lender must hold data that shows why the uplift is fair.
- Real-life affordability – decisions must consider your income, regular bills and household commitments, not just a credit score.
- Early, practical help – missed payments should trigger a supportive response such as a payment plan or short break, not instant penalties.
Motor finance is one of the sectors the FCA says it will keep under close review throughout 2025.
5: Checking a firm’s permission
Before you sign anything, search the FCA Register to confirm the lender or broker is authorised.
Typing the company name (or its firm-reference number) shows whether the permission is current and covers the business activity you need.
6: Go Car Credit—authorised, specialist and transparent
Go Car Credit Limited appears on the FCA Register under firm-reference number 727117 (see link above), meaning it has permission to offer motor finance and is supervised for ongoing conduct.
Key customer-friendly practices include:
- Soft-search eligibility check – your first assessment leaves no footprint on your credit file, so your score is not harmed.
- Indicative quote before any hard search – you see likely rates and repayments before a full credit enquiry is made.
- Clear “what happens next” guide – every stage, from document upload to collecting the car, is laid out step by step.
Full details are set out in the Go Car Credit approval guide.
7: Step-by-step: applying with Go Car Credit
- 1. Online eligibility form (about two minutes). A soft search gives an instant decision.
- 2. Document sharing. Depending on your application, we may ask for documents like bank statements, payslips or a driving licence to help move things forward.
- 3. Affordability check. Where needed, we use the information you provide to understand your financial situation and help ensure any agreement offered is manageable. Hard search and final approval. A single hard enquiry is run only when you say “yes” to the offer.
- 4. Funds released to dealership. Once approved, Go Car Credit pays the dealer directly and you collect your vehicle.
8: Managing your loan
All customers receive access to My Go Car Portal — a secure online account where you can:
- check your balance and next payment date,
- download a settlement figure in seconds,
- upload further documents, and
- message the support team 24/7.
9: If your circumstances change
Life doesn’t always go to plan — job loss, illness or rising living costs can make payments harder to manage. Under Consumer Duty, lenders must act quickly and fairly when you let them know you’re struggling.
Go Car Credit may be able to:
- move your payment date,
- agree reduced instalments, or
- set up a short payment holiday.
This isn’t a full list of support options — we’ll work with you to find the most suitable approach. While missed payments may impact your credit file, we’ll do our best to help limit this where possible. If a problem is not resolved within eight weeks, you have the right to take your complaint — free of charge — to the Financial Ombudsman Service.
10: Key points to remember
- The FCA protects you. It sets rules, checks firms, and can order refunds or fines.
- The Consumer Duty raises the bar. Lenders must provide a fair price, clear words and good support.
- Go Car Credit is authorised. Soft-search checks, open pricing and an always-on portal help you get the car you need on terms you can trust—even if you are rebuilding your credit profile.
Information correct as of 17 June 2025. This guide is for general information only and is not financial advice. All lending is subject to status and affordability.
