The Financial Conduct Authority has re-stated its intention to focus on transparency, affordability and car dealers' comission arrangements in its Business Plan 2018/19 as an investigation continues into the motor finance sector.
Consumers typically pay 68% more on the advertised price of a car when using finance compared to those paying outright, according to Auto Trader.
The used car market performed surprisingly well during March despite the best efforts of the continued bad weather to disrupt it.
The Financial Conduct Authority (FCA) has warned it will take action against insurance firms failing to to promote transparency and shopping around.
Close Brothers Motor Finance has launched an online portal allowing dealers to quote multiple finance products in tandem with its website.
Four out of five motorists are more likely to buy a car from a salesperson accredited to sell car finance, according to research from Alphera Financial Services.
The start of March may have been a little slower than usual due to winter storms, but dealers pushed ahead with their plate-change deliveries.
Santander Consumer Finance has introduced a new Propensity Modelling tool which it claims will help dealers improve their finance renewal rates.
Close Brothers Motor Finance has appointed Jaco Wilsenach as its chief operating officer to support its “business transformation programme”.
The point of sale (POS) consumer car finance market increased 7% by volume and 13% by value in January, according to the Finance and Leasing Association (FLA).
Customers are now able to pay for parts in monthly instalments with the launch of Auto Service Finance by Mopar.
The Financial Conduct Authority has said that it will continue investigations into the “risk of harm” posed by motor finance, with its final findings expected to be delivered in September.
MotoNovo Finance has celebrated a 94.5-out-of-100 rating average from almost 290,000 car buyers who have rated its funding product.
The Finance & Leasing Association (FLA) has launched a Motor Finance Specialist apprenticeship.
Lamborghini is preparing to roll out its first approved used programme as parts of plans to prepare its UK car dealers for a doubling of sales volumes following the launch of its forthcoming Urus SUV.
Car dealers’ ‘addiction’ to the lowest possible monthly PCP payments is unsustainable for motor retailers and their brands in the long term.
Car manufacturers going after UK customers in the first quarter of this year with some aggressive offers.
Cox Automotive is set to host a series of webinars and Santander Consumer Finance will take to the road with its GDPR Inform & Explain Roadshows as car dealers are offered more ways to get up-to-speed with the new data regulations.
Auto Trader has insisted that the car “finance bubble” is not about to burst, claiming that the affordability it delivers is key to social mobility and cleaner motoring in the UK.
The Financial Conduct Authority expects to publish an update on its examination of motor finance next month.
NextGear Capital has launched the ‘first mobile wholesale funding platform’ enabling dealers to manage stock on-the-go.
Long serving Close Brothers Motor Finance employees from across the UK have been recognised at an award ceremony at the business' Doncaster headquarters.
Cap HPI has revealed the average price of a new car has risen 38% over the last decade, with a PCP-fuelled push towards SUVs and premium cars the main driver of change.
Santander Consumer Finance (SCF) is driving innovation in its online retail offering with the launch of its i-click online document signature software platform.
A US-based start-up called Fair is rolling out a used car finance app that connects customers with dealers’ approved used car stock online and is looking at launching in the UK next year.
