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.
Bumper has expanded its executive team with four new appointments to prepare for the next stage of its growth in automotive payments.
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.
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.
Startline Motor Finance has appointed Andy Smithson to the new role of head of internal control, compliance and legal relay.
The UK’s established used car retail operators will continue to dominate the sector after ramping up their breadth of services to see off new market disruptors such as Cazoo and cinch, iVendi has said.
Newly published motor finance market data from the Finance and Leasing Association (FLA) have revealed that business volumes rose by a third in November.
Moneyshake, the car leasing comparison site backed by Darren Guiver has secured nationwide dealership coverage to offer new car buyers PCP deals on its platform.
Lloyds has partnered with Zoom EV to offer discounted charging and accident management services to new electric vehicle (EV) buyers.
Insurers have been banned from quoting customers a higher price for renewing their motor and home insurance, than they would pay if they were a new customer.
Stellantis has revealed plans to partner with Crédit Agricole Consumer Finance (CACF) to create a new multi-brand leasing company which will operate across Europe.
The Bank of England has raised interest rates for the first time in three years in a bid to tackle UK inflation.
Jaguar Land Rover’s (JLR) InMotion Ventures fund, Porsche Ventures and Silicon Valley-based Autotech Ventures have contributed to a £9 million fund-raising round by Bumper.
Startline Motor Finance has completed a £292m London Stock Exchange-listed securitisation to fund growth and future-proof it with a move into electric vehicle (EV) funding.
Firms handling large sums of cash have been reminded of their duty to combat money-laundering after NatWest Bank was fined £264.8 million in the Financial Conduct Authority's first criminal prosecution for money laundering failings.
Consumer car finance remained up 7% by volume in the year to the end of October despite an 11% decline in October, according to Finance and Leasing Association (FLA) data.
The Financial Conduct Authority will set new rules for regulated financial services including motor finance by mid-2022 as it aims to “fundamentally shift the mindset of firms”.
Evolution Funding has appointed Lloyds Banking Group’s Katie Hayes to the board as its first chief operating officer in what was described as a “crucial step” towards achieving its strategic goals.
Bumper has integrated with Keyloop’s car dealer management systems to facilitate the provision of digital aftersales payments.
Paragon Motor Finance (PMF) has commenced lending on EVs with a new package that’s designed to incentivise consumers to move away from ICE vehicles.
Used car dealers need to collaborate with motor finance partners to effectively compete with new digital disruptors, says iVendi.
Automotive sector consultancy Elevenci has appointed automotive finance industry expert and former Volkswagen Financial Services chief executive Bryan Marcus to its leadership team.
The Finance and Leasing Association (FLA) has announced the appointment of Rebecca McNeil as the new chair of the association, with effect from November 30.
