THE
'GOOD
PRACTICE'
GET THE good practice
guide
Download our Good Practice Guide for Arrears Charging in Motor Finance to explore six key components of a fair, customer-focused charging approach, from clear cost justification and fair value to operational controls, customer outcomes and governance.
Use the practical questions and insights from our motor finance benchmarking exercise to reflect on your existing approach, identify areas for further consideration and understand what good practice looks like in action.
FAQ
Frequently Asked Questions
The Good Practice Guide is a practical resource developed by Map Room to help Motor Finance firms asses, design and evidence a fair, customer-focused approach to arrears charging. It brings together six key components of good practice, questions for firms to consider and insights from our Motor Finance benchmarking exercise.
The guide is designed for Motor Finance firms looking to review their arrears charging approach and the outcomes it delivers for customers. It is particularly relevant to those responsible for charging strategy, customer outcomes, operations, risk, compliance and governance.
The guide explores six components of good arrears charging: clear rationale and justification; fair value and customer impact; financial difficulty and vulnerability; operational controls; outcome testing and assurance; MI, governance and oversight. Each component includes a practical question to help firms reflect on their existing approach.
Use the six components and accompanying questions to consider how your existing charging approach operates in practice. The guide also shares insights from Map Room's Motor Finance benchmarking exercise, providing additional context to help you reflect on your approach and identify areas that may warrant further review.