Car dealer groups have expressed concern at a lack of consistency among lenders over how to introduce compliance with new Financial Conduct Authority regulations.
Major franchised dealers could be hit with demand for up to £7,500 in fees when they file their consumer credit application to the Financial Conduct Authority.
Cabot Square Capital, financial services private equity investor, has acquired Blue Motor Finance, the car finance provider.
Product Partnerships, a compliance management solutions company based in Yorkshire, has become authorised by the FCA as a Consumer Credit FCA principal firm focusing on the motor dealer sector.
The cultural shift among mortgage lenders is on-going as the industry grapples with new regulations which place customers at the top of the agenda, according to Grant Thornton director for banking and mortgages Tony Moroney.
The Financial Conduct Authority's ‘treating customers fairly’ principle means big changes for car dealers' relationships with finance brokers.
New figures released today by the Finance & Leasing Association (FLA) for September show 12% growth in consumer new car finance, compared with September 2013.
New car registrations increased 14.2% in October to 179,714 units, marking the 32nd consecutive month of growth.
The Finance & Leasing Association (FLA) expects year-on-year increases in loans from its members for retail purchases of new and used cars through dealerships to continue until the end of the year.
Videos are predicted to become an increasingly important sales tool on dealers’ websites alongside a wider range of products to increase F&I revenue.
GAP pricing transparency would be the biggest single advantage that the FCA could provide to help new and used car customers make more informed choices.
The Funding Corporation this month launches Inisium, a non-prime HP loan of up to £10,000 for buyers of used and, for the first time, new cars.
Automotive Compliance, the appointed representative (AR) network working within general insurance meditation specifically for the motor industry, has been confirmed by the Financial Conduct Authority (FCA) as a principal firm for consumer credit.
With many dealers’ slots to apply for full FCA authorisation being moved forward, with a deadline of December 31 in many cases, businesses must be prepared, warned the NFDA's Louise Wallis.
Details of Kia's new car retail finance offers until the end of the year have been added to our look-up tool.
Dealers who want to lead the consumer-focused cultural change the Financial Conduct Authority (FCA) era is hailing in F&I product sales will need to consider employing a compliance manager, F&I expert Adrian Foster predicted.
For more than a decade AM has profiled a selection of manufacturers' retail new car finance offers. Now a more comprehensive guide is available on AM-online at this address www.am-online.com/retail-new-car-finance-offers/ or via the homepage tool.
There is no major HMRC attack on mileage recording in the motor sector. But there is the need to exercise care and it would be sensible to review your own position to ensure that if you get the knock on the door from HMRC you are less likely to face a significant liability.
Dealers should embrace the new era of the Financial Conduct Authority (FCA) or risk the imposition of a stricter structure which other industry sectors have been forced to adopt, delegates at AM’s new F&I Compliance Conference will be told.
Working towards FCA compliance could see dealers and lenders move away from flat rate motor finance products to APR-based alternatives.
The full webinar entailing a presentation by Alphera's FCA readiness manager Martin Parr on the key interpretations of the Financial Conduct Authority's new consumer credit regime and a Q&A, is now available to view, together with slides.
A ‘tick box’ approach to regulation won’t work when applying for full Financial Conduct Authority (FCA) authorisation.
Blue Motor Finance has announced that it will be re-launching its brand at the end of the year.
Accountancy firm MHA MacIntyre Hudson has become the UK member firm of Baker Tilly International.
A free webinar providing information on how to be best prepared for new rules for dealers on providing consumer credit is being held tomorrow by AM and Alphera.
