GM CAP Clean Vehicle Financier Framework

Descriptions

TfGM is intending to establish and manage a panel or framework of experienced, FCA regulated vehicle finance providers (‘Finance Providers’). TfGM intends to provide a financial contribution in respect of each loan agreement concluded by a finance provider with an applicant business (‘Applicant’), such that the panel members are able to offer attractive financial packages to eligible vehicle owners. Although it will make such financial contributions, TfGM is not intending underwriting or guaranteeing any of the loans, and thus the finance providers will still be exposed to the credit and default risk of each applicant/borrower. Nor will TfGM guarantee or underwrite any volume or quantum of loans. The overall aim of the scheme is to address and reduce the adverse impacts on individuals, companies and organisations of financing an upgrade to a compliant vehicle, without reducing the effectiveness of the GM CAZ