Fleet leasing and funding firm Zenith has been sold by HG Capital to private equity firm Bridgepoint for £750 million.
Car finance products have been highlighted as a key driver of profits as 65% of car dealers told a survey by Close Brothers Motor Finance that they expected to achieve growth in 2017.
A wave of new car price increases prompted by the weakness of the pound should place a new degree of emphasis on more effectively promoting motor finance, says iVendi.
The FCA has begun its publication of data about claims frequencies, claims acceptance rates and average claims pay-outs in a bid to make the value of products more transparent for consumers.
Startline Motor Finance has appointed Sara Copeland as its first head of human resources after its team swelled to 55.
There are many areas of motor retail that can be subject to VAT risk and failing to apply the right VAT treatment can lead to assessments for underpaid VAT and the threat of penalties and interest.
According to the Finance and Leasing Association (FLA), in the twelve months to August 2016 2.2 million new and used cars were bought on finance by consumers through dealerships.
Hyundai Motor UK has reappointed Verex to operate its customer motor insurance and accident aftercare programmes.
New business in the point of sale (POS) consumer new car finance market grew 13% by value and 7% by volume in November, compared with the same month in 2015.
Perrys Group has secured a £40 million refinancing from Lloyds Bank Commercial Banking.
The Finance & Leasing Association has won government approval to develop a motor finance specialist apprenticeship standard for the motor finance industry.
McMillan Shakespeare Ltd’s Maxxia UK operation has added Midlands-based Capex Asset Finance Limited finance broker to its growing portfolio of companies.
Independent dealers look set to become the growth area for online motor finance during 2017, according to iVendi.
The best used car stock is now largely being sold online in a ready-to-retail condition to dealers.
Changes at the top at Moneybarn are set to see Shamus Hodgson move from his current role as commercial director to the position of managing director.
FCA Automotive Services is celebrating after gaining IMI accreditation for its own finance training program.
The point-of-sale consumer used car finance market grew 12% by value and 9% by volume in October, compared with the same month last year, according to The Finance and Leasing Association.
Direct car sales are the biggest threat to Auto Trader but Brexit could prompt a two year business boom for the UK, according to chief executive Trevor Mather.
The Trade Centre Wales is set to open its second new superstore within nine months, crossing the border for the first time with the opening of a 12 acre, 1,200 car site in the West Midlands.
New EU rules on debit card transactions are likely to be beginning to bite with retailers where large purchases are made, such as a used car when a customer has sourced a loan and the monies have been deposited in their personal bank account, hit the hardest.
Glass’s has predicted that the falling value of the pound is likely to see monthly PCP new car payments rise in 2017 as manufacturers look to recoup their losses.
A quarterly dealer satisfaction survey has uncovered evidence that 63% of dealerships are positive about business prospects for 2017.
The appeal of the PCP is central to a range of new finance products which have now been made available for the McLaren Sports Series through McLaren Financial Services.
The FCA took over the regulation of consumer credit in April 2014. What’s happened since?
Hitachi Capital Motor Finance has partnered with Vertu Motors to launch a Buy Now Pay Later 0% deal with a six month deferred period for customers.
