The Financial Conduct Authority will use the millions of consumers who use financial products and services to ensure that the industry meets their needs and expectations, said its chairman John Griffith-Jones as the FCA published its annual report for 2013/14.
Used car classified site Motors.co.uk is to add a finance calculator ‘widget’ as a no-cost option for all of its dealer customers from August.
The UK’s newest independent appointed representative network for general insurance, TRACS Solutions, has been launched.
A finance software provider has urged dealers to use simple website devices such as calculators to encourage car buyers to develop personal packages that persuade them to extend their visits.
We ask lenders whether investing in social media offers suitable returns for car dealers.
Dealers should look at tailoring finance deals as the pace of growth in the new car market inevitably slows, according to Alphera.
The 10 largest dealer groups in the UK are now Specialist Automotive Finance (SAF) approved, according to the Finance and Leasing Association (FLA).
New cars bought on finance increased by 4% in April, according to the latest figures from the Finance & Leasing Association (FLA).
The Financial Conduct Authority (FCA) has warned that logbook lenders will need to ‘dramatically raise their standards’ if they are to continue operating.
Alphera Financial Services has made six new senior appointments following its biggest year of growth.
MotoNovo Finance has been named the Car Finance Provider of the Year at the Credit Today Awards 2014.
Dealers will be expected to go into more depth with customers to make sure they are able to afford finance under proposed changes from the Financial Conduct Authority (FCA).
DSG FS has launched an app allowing dealers to pre-screen customers at the point of sale and helping them comply with the FCA’s treating customers fairly principles.
The Financial Conduct Authority (FCA) has published a list of 19,335 companies offering pay day loans that have failed to register for interim permission to offer consumer credit.
The Financial Conduct Authority approached nine companies in the automotive industry in its first 15 days of taking responsibility for consumer finance.
Credit firms need to do more to ensure their adverts and promotions do not mislead potential customers. The findings come as Financial Conduct Authority (FCA) statistics show that one in five adverts from consumer credit firms, for products including payday loans, fell short of the FCA’s financial promotion expectations - although most firms were quick to make changes once the shortcomings were pointed out.
Alphera Financial Services has launched a loans package for new and used electric vehicles and hybrids following a 534.4% year-on-year increase in UK registrations of pure electric cars in January and February.
Mitsubishi will price its Outlander PHEV from £436 a month on 6.9% APR finance following a deposit of £6,410.
Figures released today by the Finance & Leasing Association (FLA) show that consumer new car finance volumes were up by 21% in March compared with the same month in 2013, and by 23% in Q1 2014.
Car Loan 4U has continued its rapid growth in the online car finance sector after announcing the appointment of David Kelly as chairman.
DSG Financial Services has appointed a head of compliance to help dealers implement the new Financial Conduct Authority (FCA) directives.
The number of new cars bought on finance grew 26% in February year-on-year, according to figures from the Finance & Leasing Association.
New FCA financial regulations will not benefit supermarkets, banks and other direct lenders over dealers, says Richard Hoggart, DSG Financial Services MD.
The FCA's new consumer finance regulations in force from April 1 may bring unforeseen benefits for dealers as well as consumers, said Gerald Grimes, managing director of Hitachi Capital Consumer Finance.
Dealers should use the new Financial Conduct Authority framework to drive change in how they promote loans and deliver a fresh approach digitally aimed at younger car buyers
