Consumer new car finance volumes grew 13% in 2014 year-on-year and by 10% in December to reach a record annual level of 897,593 units.
HM Revenue and Customers (HMRC) is understood to be about to target motor repairers across the UK to identify incorrect VAT returns and target suspected suppression of sales.
Startline Motor Finance has appointed Kevin Haddock as southern regional sales manager.
JBR Capital, the UK’s only independent finance provider dedicated solely to high end vehicle finance, has been acquired by an affiliate of Cabot Square Capital, the specialist financial services private equity investor.
The latest finance offers available to car dealers to help entice customers into buying a new car are listed on AM-online.
Regulatory changes have required finance providers to shift their priority from car dealers to car buyers
Two experienced executives are key players in new enterprises that will challenge established providers of car dealer finance in 2015. Blue Motor Finance is targeting the prime car loan market and George Banco is going after sub-prime customers.
Regulatory changes set by the Financial Conduct Authority last year 'could cost businesses more than £100 million by 2020'.
For dealers who invest in the right people and specialists, implement clearly defined sales processes and have a culture of monitoring and managing the sales of F&I the outlook is bright.
Automotive lenders are urging car dealers to grasp new opportunities in 2015, while warning of dangers ahead for those who fail to react to change.
A survey has revealed that 43% of dealers think that new Financial Conduct Authority (FCA) rules will have no impact on finance sold in showrooms, with a further 19% expecting the impact of the changes to be positive.
Advice from the expert speakers at AM's F&I Compliance Conference on meeting and conforming to industry-regulating bodies
Complying with FCA requirements could lead to an increase in sales. This is the conclusion from consumer research undertaken by MotoNovo Finance.
Alphera Financial Services has revealed the details of the new pricing structure for its dealer and broker partners across the UK. The new approach will be rolled-out across its partner network from January 1.
The Financial Conduct Authority has today announced a new consultation on proposals to limit point-of-sale offer of GAP insurance.
Devising a profitable stocking policy is not straightforward, but modern dealers have the benefit of new analysis tools, better market data and increased finance options
BMW Group Financial Services believes it has taken a market leading position in introducing a capped dealer finance rate. But in this in-depth interview it says this is the first step in ensuring the customer comes first – and it is now trialling a further reduced rate.
The Financial Conduct Authority has reported that nearly 30% of interim permission holders that had the landing slot of October 1 to December 31, have not yet responded or submitted an application. This period was the first wave to include motor dealers.
UK service plan provider EMaC has been acquired by the Innovation Group, a global provider of business process services and software solutions to the insurance, fleet, automotive and property industries.
Fines totalling £928,00 imposed on three former senior Swinton Group executives highlight that 'dealers will be held responsible' for any FCA compliance failures.
Car dealer groups have expressed concern at a lack of consistency among lenders over how to introduce compliance with new Financial Conduct Authority regulations.
Major franchised dealers could be hit with demand for up to £7,500 in fees when they file their consumer credit application to the Financial Conduct Authority.
Cabot Square Capital, financial services private equity investor, has acquired Blue Motor Finance, the car finance provider.
Product Partnerships, a compliance management solutions company based in Yorkshire, has become authorised by the FCA as a Consumer Credit FCA principal firm focusing on the motor dealer sector.
The cultural shift among mortgage lenders is on-going as the industry grapples with new regulations which place customers at the top of the agenda, according to Grant Thornton director for banking and mortgages Tony Moroney.
