Car retailers have been told “there can be no compromise” when it comes to the technology leveraged to ensure compliance with the Financial Conduct Authority’s (FCA) new Consumer Duty.
The automotive sector is braced for the impact of a record 0.75ppt rise in interest rates if the Bank of England acts to curb inflation next week.
The cost-of-living crisis is pushing new and used car buyers to opt for finance rather than cash purchases, research by What Car? has found.
AM is hosting a webinar for law firm Freeths this Thursday to give UK motor retailers insights into how they must prepare for the Consumer Duty, the new regime from the Financial Conduct Authority.
The used car sector delivered double-digit growth in the value of new business generated in July as supply issued continued to subdue new car registrations.
Daimler Trucks has launched a new financial services business to help support Mercedes-Benz and FUSO trucks customers.
Motor finance providers are likely to tighten the criteria on which they base their lending, in order to minimise their risks during the cost of living crisis.
Pendragon is providing its customers a new payment option with Pinewood DMS and Vyne open banking in-store and online.
Volvo Cars has announced the appointment of Steve Catlin as managing director of Volvo Car Financial Services UK (VCFSUK).
Volkswagen has opened its order books for the ID. Buzz Cargo commercial vehicle version of its newly-launched zero-emissions MPV.
The Financial Conduct Authority has had concerns about unregulated 'buy now pay later' (BNPL) products for some time, and now it has issued a blunt warning to firms about their advertising of such offers.
Verex Group has appointed ex-Volvo manager Tony Grice as a senior key account manager.
JBR Capital has marked a record month-long period since its establishment in 2015, lending £27m to customers.
NextGear Capital has appointed Chris Stakes as commercial director and Victoria Gardner as director of NextGear Development.
Motor finance firms need to respond to consumer pressures. OEMs look to reduce tactical marketing spend, but need to support their new car sales networks in retaining customers.
Paragon Motor Finance has expanded its electric vehicle (EV) finance offering to include vans, in response to customer demand.
The National Franchised Dealers Association has responded to new FCA rules on appointed representatives with a warning of likely delays and increased costs passed on to consumers.
A ‘seismic’ High Court ruling over a landmark case involving RCI Financial Services and Mackie Motors has paved the way for a seven-day termination period for franchised car retailers, it has been claimed.
The UK is set to slip into recession this winter as rising fuel and energy costs stymie economic growth, the Bank of England warned as raised interest rates by 0.5% today.
V12 Vehicle Finance (V12VF) has reached its third-year anniversary with record sales figures.
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".
