AutoProtect appoints compliance chief
Gap insurance experts are calling for the Financial Conduct Authority (FCA) to clarify its stance, citing its recent blanket warning as “irresponsible”.
The restructuring agreement announced by online car dealer Cazoo this week to “deleverage” its capital structure and further improve its “financial flexibility” won't yet smooth its investors' journey, and stakeholders should "buckle up" according to one expert.
The FCA has given insurers a three-month ultimatum after recent data revealed that guaranteed asset protection (GAP) products could be failing to provide fair value.
TC Harrison Group is investing in systems and training to help its workforce identify and support vulnerable customers in line with Financial Conduct Authority demands.
Car Care Plan’s acquisition of the assets of insurance broke Verex is being hailed as a “a great strategic fit” its chief executive Ben Russell.
New research by JATO Dynamics, has found that a large proportion of consumers across EU5 (France, Germany, Italy, Spain and the United Kingdom) are confused by car finance packages – unable to understand and differentiate between the details of finance products.
Electric car subscription firm Onto, which has a fleet of 7,000 EVs and a customer base of 20,000 subscribers, has collapsed as it ran out of cash.
As the UK's new car market climbs towards its more natural level, and the flow of used cars onto forecourts increases, motor retailers should be prepared to see more innovation from finance firms and even new entrants, writes Darren Sinclair, chief commercial officer at iVendi.
The fleet sector’s concerns over the fall in value of used electric cars could be pivotal to the UK’s success in phasing out fossil-fuel models.
International banking group CA Auto Bank and British supercar manufacturer McLaren Automotive have launched McLaren Financial Services in key European markets.
Renault Group’s Ludovic Troyes is to join vehicle warranty and associated insurance business Opteven as its chief executive in September as part of the business’ growth plans in UK & Ireland.
Dealers are increasingly looking to valuable add-ons to help boost profits
High monthly payments are likely driving thousands of private motorists away from signing up to new car PCH deals, according to the latest report from the British Vehicle Rental and Leasing Association (BVRLA).
Independent trade car auction site Auction4Cars.com is adding V12 Vehicle Finance as a funding provider partner to offer more financing options to dealers purchasing stock through the platform.
Car leasing firm Octopus Electric Vehicles has introduced a salary sacrifice program focused on pre-owned electric vehicles (EVs).
Nick Williams, managing director of the transport business at Lloyds Banking Group, is to join the Board of The Finance & Leasing Association (FLA).
‘Try before you buy’ could help make buyer remorse a thing of the past, according to new research from insurer Churchill Expert.
Three Lloyds finance businesses are facing a class action in the High Court over 'overcharging'
Mike Todd, Volkswagen Financial Services UK chief executive, believes the new Consumer Duty regulations will encourage a renewed focus on customers.
Global investment firm Carlyle has agreed to acquire Evolution Funding, the UK used car finance platform.
Mann Island Finance has hit the £1 billion lending milestone, which it says cements its position as a “significant player” in the UK motor finance sector.
Almost three out of four dealers (73%) believe measures to meet the FCA’s Consumer Duty responsibilities will create new opportunities, according to iVendi.
Voluntary terminations, voluntary surrenders and repossessions rose in May 2023 to the highest level for nearly two years, according to the Motor Auction Group.
The Financial Conduct Authority (FCA) is proposing new rules to combat non-compliant financial promotions on social media platforms.
