A car dealership’s financial controller has been jailed for three years for defrauding the business of £252,000 as its owner struggled to fund his wife’s treatment for cancer.
Cash-strapped motor finance customers can ask for a second three-month freeze or cut on their monthly payments that could last into 2021, the Financial Conduct Authority has confirmed.
MotoNovo claims to have moved towards the Financial Conduct Authority’s (FCA) car finance ideal scenario with the launch of its new “priced to risk” MotoRate offering.
Car buyers who reined-in their spending during the COVID-19 lockdown period have returned to the market with improved credit ratings and higher budgets, research suggests.
Kia, Renault, Dacia, Seat, Skoda and Suzuki in particular have been offering strong new car finance offers since June to help the new car market revival.
Car retailers have been warned to be on their guard after a fraudster attempted to scam the James Glen Car Sales out of £41,000 and a Porsche Cayman sports car by exploiting the Government’s Bounce Back Loans (BBL) scheme.
Research published by What Car? has revealed a list of new cars that are cheaper to buy on finance than outright in cash.
A new car subscription service claiming to offer a single monthly payment mobility for fleets and private motorists claims that it will help to drive the adoption of alternative fuel vehicles (AFV).
Evolution Funding witnessed a record number of proposals through its online platform in June as car buyers flocked to dealer websites in the hunt for a new car.
Online motor finance applications have risen by 53% since the period before the Coronavirus lockdown started, according to iVendi.
MotoNovo Finance has announced it is able to provide additional support to the dealer community as an accredited ‘Introducer’ for the Aldermore Coronavirus Business Interruption Loan Scheme (CBILS).
The Financial Conduct Authority is set to demand motor finance firms extend the support available to customers left short of cash due to COVID-19.
Nissan has followed a string of car manufacturers in offering a three-month PCP finance payment holiday offer on models across its range of vehicles.
Hardly a year goes by without the role of regulation in the economy being reconsidered. Even now, in the midst of a national crisis, the debate continues.
Peugeot has highlighted potential cost of ownership savings of up to £200-per-month in a bid to promote sales of its new range of electric vehicles (EV) and plug-in hybrids.
Leasing giant Zenith has chosen Aston Barclay as its remarketing services supplier, awarding it a two-year contract.
MotorVise Automotive has partnered with Drive Assured and The Compliance Company to form the Motor Alliance – a new business aiming to drive car dealers’ profitability.
Lending panels are favouring finance providers that can deliver a high degree of flexibility as dealers look to restart their businesses after the Coronavirus lockdown.
HM Treasury has appointed the current chief executive of London Stock Exchange Nikhil Rathi as the new permanent chief executive of the Financial Conduct Authority (FCA).
UK businesses were struggling to generate cash flow prior to the COVID-19 coronavirus, with car retailers among the nation’s worst performers, according to research published by BDO.
The Financial Conduct Authority (FCA) has extended the availability of payment freezes and interest-free overdrafts for a further three months in a bid to help consumers mitigate against the impact of the COVID-19 coronavirus.
Credit card firms could face significant damages claims after the Supreme Court dismissed an appeal by Visa and Mastercard, ruling that fees the companies were charging retailers restrict competition.
The Finance and Leasing Association (FLA) is calling for the Government and the Bank of England to take immediate action to support the non-bank lending market, as forbearance requests reach 1.6m.
The car leasing industry is experiencing a rapid rate of recovery following the automotive industry’s collapse during the Coronavirus pandemic.
A new type of customer has emerged, the super-savvy, super-confident. These are the people buying pure electric vehicles (EV) during a pandemic, giving double digit growth in a market which is otherwise hardly moving.
