The Supreme Court has granted permission for two car lenders to appeal a landmark ruling on motor finance commission payments that has raised concerns over a potential £30 billion compensation bill.
MotorEasy has launched a new GAP insurance product tailored specifically for leased vehicles offering cover if the car is written off and the insurance payout falls short of covering the remaining lease balance.
iVendi is partnering with customer engagement specialist Barbuck to help dealers connect with potential finance customers by turning online interest into real-time conversations.
Fires involving electric cars have surged by 77% in just two years, highlighting mounting safety concerns over the lithium-ion batteries.
Used car marketplace Motorway has announced a significant upgrade to its insurance offering, Motorway Protect to cover over 90% of vehicles sold on the platform.
The UK's motor finance industry must wait until the summer to hear whether the Supreme Court will overturn the notion that lenders and their partner car dealerships have been unfair with their customers because of the finance commission paid to dealers.
The National Franchised Dealers Association (NFDA) today fiercely countered accusations that its members have engaged in bribery for decades as the Supreme Court appeal continues
Vehicle inventory funding bank Distribution Finance Capital has increased its annual profits from £4.6 million to £19.1m.
A landmark Supreme Court case could determine the fate of a potential £44bn compensation bill linked to undisclosed dealer commissions.
Eddie Flanagan, partner at law firm Shakespeare Martineau, notes that it while a spotlight remains on the UK's motor finance market due to important legal actions it is critical for lenders to be continuously refining their data and practices.
It’s a year since the FCA’s investigation into GAP insurance, casting light on the character of the motor finance industry. But GAP is back on the table and motor retailers can make strides to re-build revenue, writes Duncan McClure Fisher, CEO at Intelligent Motoring.
A dealership’s point of sale experience has a vital part to play in having success with warranty and insurance add-on sales. Which is why Automotive Management is delighted to publish this special report, The Business of Warranty and Add-on Insurance, sponsored by Car Care Plan.
Car insurance premium hikes have become the leading concern for motorists, overtaking rising fuel prices, according to new research from Close Brothers Motor Finance.
In the latest in Automotive Management's '5 Minutes With...' series, deputy editor Aimée Turner caught-up with Bumper’s head of sales Dan Christie.
Lloyds Banking Group, which owns Black Horse Motor Finance and Lex Autolease, has put another £700 million into its pot for potential compensation while it awaits the outcome of the car loan commission saga at the Supreme Court.
New research suggests that the cost of running an electric vehicle (EV) has dropped to £1,154 per year, making it 50.2% cheaper than the £2,316 required to run a petrol car
The FCA ramped up its crackdown on misleading financial promotions in 2024, forcing nearly 20,000 ads to be withdrawn or amended - almost double the 2023 figure.
The second part of our review of the most-read articles of 2024
The motor insurance industry is projected to return to profitability in 2024 after two years of record losses, according to EY’s latest UK Motor Insurance Results.
UK consumer car finance new business volumes fell in October 2024 by 2% compared with the same month in 2023, according to the FLA.
More than a third of motorists would be encouraged to replace their current petrol or diesel vehicle with an electric vehicle if the Insurance Premium Tax was ditched, according to new research.
Former Lookers executive Paul Bentley has been recruited by the National Franchised Dealer Association.
The motor retail industry is being urged to have its say on a proposal from the Financial Conduct Authority to let dealerships and finance providers delay their responses to consumer complaints about motor finance commission.
Warranty Solutions Group (WSG) has partnered with Strategic Risk Solutions (SRS) to introduce a comprehensive lineup of regulated protection products through its new captive WSG Guardian Insurance.
The move by the Treasury to sound out how best to deal with mass compensation claims has been welcomed as a positive step although immediate certainty is critical for car loan providers, according to motor retail tech business iVendi.
