The UK’s new car finance suffered its “largest contraction” in new business volumes since February 2021’s COVID-19 lockdown period during June, according to new data published by the Finance and Leasing Association (FLA).
The Financial Conduct Authority has toughened its rules to help prevent consumers being mis-sold or mis-led by appointed representatives (ARs) following its concerns that many are not being managed effectively by principal firms.
Paragon Bank has appointed Yolande Eastwood as commercial vehicle dealer finance manager, responsible for managing the South of England and Wales regions.
A Trade Centre Group radio advert which claimed that the retailer was offering “hundreds of cars” for sale with finance repayments of £20-per-week has been banned by the Advertising Standards Agency (ASA).
The Financial Conduct Authority has shifted its expectations of finance firms and dealers from the old "treating customers fairly" principle to now an adage of "put their customers' needs first".
Car subscription service Onto has raised £49.8m to fund its expansion into Europe next year.
Bumper has continued to accelerate its interest-free aftersales finance offering with the launch of a customer facing car servicing portal for motorists.
Snows Motor Group has announced the launch of its online leasing platform Snows Direct, adding to its existing online purchasing and maintenance platforms.
When I read earlier this year about the push for the automotive sector to achieve carbon net zero, I imagined some worried faces.
Open banking is expected to become the most popular payment method in car dealerships by 2030.
A new iVendi whitepaper is aiming to help car dealers improve their online experience and bridge gap between to retailers Amazon, John Lewis and eBay.
Alphera Financial Services has appointed Alex Royall as its new UK director after Preston Rogers left to become head of Jaguar Land Rover (JLR) Financial Services at Lloyds Banking Group.
Demand for GAP insurance quotes and extended warranties for alternative fuel vehicles (AFVs) is rising year-on-year (YoY), data from Intelligent Motoring shows.
High new and used car prices will continue to drive the motor finance sector's growth by value despite a cost-of-living crisis that will “subdue consumer spending in the coming months”, the FLA has said.
Startline’s Used Car Tracker has revealed that 63% of dealers have changed the types of cars they are stocking in response to the cost-of-living crisis.
The growth leaders for UK new car registrations are offering models with an average monthly personal contract purchase (PCP) price of just £230.50.
Over a third of motorists plan to abandon their cars in favour of public transport if fuel prices continue to rise above their current average of over £100 for a tank of petrol.
Paragon Bank’s Motor Finance division has more than doubled the amount of car retail lending during the first half of its financial year.
Automotive aftersales finance provider Bumper has appointed Snap-on Business Solutions’ Nick Squire as its new international sales and partnerships manager.
The Finance and Leasing Association (FLA) still expects a Q2 rise in car buying activity, despite expectations that spending will slow amid rising inflation, interest rates, and taxes.
National Franchised Dealers Association (NFDA) chief executive Sue Robinson has welcomed Government’s decision to reform the Customer Credit Act – branding it “outdated”.
Citroen has announced a PCP deal for its Ami electric quadricycle, starting from £19,99 per month.
The role of the car dealership’s business manager is evolving – and digitalisation is playing its part in that change.
Car dealerships are facing a double whammy of rising overheads and diminishing consumer finances after the Bank of England (BoE) further increased interest rates this month to 1%.
Close Brothers Motor Finance have raised £35,000 for the Make-A-Wish Foundation and Cancer Research UK through a series of fundraising events.
