Hitachi Capital Vehicle Solutions to refuse car loans to hospitality workers
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Hitachi Capital Vehicle Solutions, one of the UK’s largest vehicle finance companies, has told car dealers across the UK that it will refuse loans to people working in the hospitality sector.
BBC Scotland has learned that the firm sent a letter to dealers and brokers saying it would not lend to people working in the industry.
Hitachi Capital Vehicle Solutions said the new rule was intended to prevent customers being declined finance, which could negatively affect their credit rating.
A spokesman for the firm said it had decided to “openly communicate a temporary change to our credit criteria” with its brokers and dealers.
He said: “This decision was made in order to protect individuals in this sector from being potentially declined, and therefore putting customers in a situation that could impact their credit rating.”
Tom Ponton, who has a fleet of cars for several businesses, including one in the hospitality sector, said shopping around for better finance deals could also affect an individual’s credit rating.
Mr Ponton, who owns the Oz Bar in Edinburgh’s Grassmarket, said: “I’m shocked and horrified. It’s a disgrace and a scandal that they should find an excuse on the back of coronavirus to make it more difficult for the hospitality sector.”
He said the new rule was discriminatory to those in the industry.
Mr Ponton added: “It is not our fault that we have had all these restrictions imposed on us, and now we are being penalised further for the situation these restrictions have put us in.”
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