Car dealers holding Asian brand franchises such as Kia, Hyundai, Toyota and Lexus seem most content with the competitiveness of their new car finance offers.
Peter Vardy’s CarMoney motor finance business has moved into 9,000 square feet of new office space as it plans to boost staff numbers this year.
Newly-appointed Close Brothers Motor Finance sales director Lisa Watson has said she is excited to make a start after seeing the speed of “rapid transformational changes” at the business.
Paragon Bank managing director of motor finance Julian Rance believes a more coherent plan on developing the charging infrastructure, plus insight into the Government’s tax agenda, should propel electric vehicle (EV) adoption.
The Bank of England’s decision to raise interest rates to 0.75% have been criticised for placing “more pressure on household finances” - and will hit the car retail sector's overhaeds too.
Almost one in two motor finance applications made during 2022 will happen online, according to new figures compiled by iVendi.
Car buyers looking to change their car in the coming months are increasingly shopping with a monthly, rather than total, figure in mind.
The Finance and Leasing Association (FLA) has warned that inflation could peak at 8% in the first half of 2022 after the global economic outlook weakened following Russia’s invasion of Ukraine.
As Q1 draws to a close with what is likely to be a quieter than normal March plate change month, AM took a look at the new car finance offers being served up by some of the sector’s leading brands.
New terms on buy-now-pay-later (BNPL) finance products introduced by the Financial Conduct Authority (FCA) have resulted in late payment fees being refunded to customers.
The consumer car finance market grew 2% by volume and 13% by value in December to complete a 2021 “rebound” despite the headwinds of COVID-19 and vehicle supply shortages.
The future of franchised retailers’ motor finance FCA ruling on discretionary commissions has lead to greater transparency, but few dealers are reporting any noticeable variation to income as a result.
Independent used car dealerships and supermarkets have been best positioned to adapt to the Financial Conduct Authority (FCA) rule banning discretionary commission models that was brought into force last January.
Bumper has expanded its executive team with four new appointments to prepare for the next stage of its growth in automotive payments.
With December’s publication of the Financial Conduct Authority’s (FCA) second consultation on its new all-encompassing Consumer Duty protocols and the automotive retail sector now subject to commission disclosure regulations, motor finance has once again been reassessing how it operates.
Paragon has launched a new finance proposition for commercial vehicle dealers, to complement existing manufacturer offers.
Paragon Bank’s Motor Finance managing director Julian Rance has suggested that used car values will remain robust for "three to four years" as elelctric vehicles (EV) start to dominate registrations.
As car retail sector experts predict that subscriptions could take over from PCPs as the most popular way to fund a private vehicle, AM compared Q4's offers to see how they compare.
The Peter Vardy Group’s CarMoney motor finance operation is aiming to boost its presence in the North East with the appointment of Owain Thompson as regional sales manager.
Eurorepar Car Service has seen a 35% increase in the average monthly transaction value of garages offering its Drive Now Pay later flexible finance service.
