April marked the launch of the changing face of motor finance, with new regulatory authorities and a revamped Finance & Leasing Association ‘financing your car’ website.
A new Finance & Leasing Association website, with a commitment to ‘steer car buyers to better information’, was due to be launched by the end of last month.
Hartwell is increasing sales to existing customers that have bought on finance at its Abingdon Motor Village by targetting them 18 months before the end of term.
UK dealers paid their bills 1.7 days faster during Q1 2013 with 21.12 days beyond terms on average in comparison to 22.81 over Q1 2012.
Pendragon, the UK's largest franchised dealer group, expects to complete a refinancing of its debt next week.
Dealer new car loans 42% up.
New analysis from Experian, the global information services company, has revealed that of all the new and used cars bought through a motor finance deal during 2012, 54% cent changed registered keeper before the term was due to end.
The UK's largest franchised dealer group is planning action to refinance its debts.
Growth in insurance sales is leaving service advisers handling more claims.
Volkswagen is offering new vans from £199 a month (plus VAT and initial rental), deposit contributions of up to £2,000 and free servicing for Crafter models.
The number of new cars bought by consumers using dealer finance grew by 31% in February 2013 compared with same month in the previous year, according to the latest figures from the Finance and Leasing Association (FLA).
Mazda is offering several finance deals to boost sales across its network of 135 dealers with zero deposit offers on all models until June 30.
Top 30 AM100 business Stoneacre Motor Group has launched its own financial services arm.
Great Wall UK has extended the warranty on its Chinese-built Steed pick-up to boost its attraction.
The high bar set by banks and major lenders on credit worthiness in the new car finance sector is filtering down to loans for used cars, said Richard Cox, head of motor operations at The Funding Corporation (TFC).
New MoT rules now in force could trigger a rise in loan applications from credit impaired borrowers, a major non-prime motor finance company has predicted.
Pentagon Motor Group will be offering customers the ability to check whether they will be approved for finance on its stock after signing up to iVendi’s Car Finance Checker.
The directors of vehicle preparation firm Autoclenz have acquired the business in a ‘multi-million pound’ management buyout.
Another substantial increase in showroom finance for new retail cars has prompted the Finance & Leasing Association to welcome consumer credit regulatory reform, but with reservations.
The Department for Transport (DfT) is to present a green paper looking at a range of options for improving the safety of newly-qualified drivers.
The Government has set an April 2014 deadline for introducing a new set of rules for consumer credit.
The Office of Fair Trading (OFT) is looking at HPI’s takeover of Carweb and appears to have put a block on the deal until it has concluded its research.
Independent motor auction group SMA Vehicle Remarketing has launched a new stock funding option for used car dealers.
Many dealer groups have plans to ramp up showroom sales now they are taking a record 70.8% of the total
MotoNovo Finance has set ambitious ‘stretch’ targets for its development team ahead of 13-plate March, increasing showroom loan training and support for dealers.
