CBS Support Update | June
CBS are here to help our customers get back to businessTags: Automotive CBS News
Continuing to support all of our customers
Since the outbreak of Covid-19, and the ensuing lockdown, Car Benefit Solutions (CBS) has implemented a range of measures to our employer customers and their employees who participate in CBS car schemes.
The key measures implemented so far include facilitating the extension of any live Credit Sale Agreement approaching its scheduled end date by up to 6 months, alongside proactively supporting both furloughed employees and those who are in genuine financial distress with a range of options.
CBS has gone beyond the measures recommended by the FCA (Financial Conduct Authority) both in terms of implementation date, but also through our intention that wherever possible, any employee in genuine financial distress should not end up paying any more interest on their Credit Sale Agreement than they had expected to at the outset.
Now that automotive retailers have been able to reopen, the CBS team are available to offer all of the support you need. CBS is also in regular dialogue with all sponsoring manufacturers to ensure that each scheme reflects the current situation.
CBS will continue to try and support all of its customers in the best way possible and will review how best to do so as the situation evolves. We would also welcome and encourage your feedback on how CBS can continue to assist both your business and your employees.
Most importantly, we hope that you and all of your colleagues, family and friends stay safe and well.