Experian has launched a new finance monitoring tool for dealers using AutoCheck which creates real-time alerts generated on vehicles they have checked that still have outstanding finance on them.
Business managers are a key weapon in the drive for more F&I business
The finance sector provided loans worth more than £9 billion to help retail buyers acquire more than 650,000 new cars in the 12 months to November, a 34%/£2bn-plus year-on-year increase.
Dealers last year missed out on providing loans, as well as selling cars, because their websites did not work properly for the range of devices used by people making searches.
Service plans were last year the main add-on to showroom finance to boost dealers’ F&I revenue.
Insurance add-ons, ranging from MoT repair cover to paint protection, generate significant income and help customer retention, but one provider has a word of caution over commission.
A new round of training in regulatory changes is on the horizon as the Government prepares to introduce important alterations to consumer credit in 2014. The way dealers sell showroom loans is bound to come under close scrutiny.
Retail motor finance providers are preparing to step up training for dealers to make the most of the further growth in showroom loans that the Finance & Leasing Association is forecasting for 2013.
MPs have asked the Treasury to put more focus on a single Budget in the UK rather than using the Autumn Statement as a second Budget in the year.
ALD Automotive, the UK vehicle leasing and fleet management provider, has appointed Mel Dawson as its new managing director.
The level of support being offered by manufacturers to tempt customers into buying a new car has been described as worrying in a new report.
Foray Motor Group directors have an extra reason to celebrate this Christmas after paying off a multi-million pound start-up loan ahead of schedule.
The Specialist Automotive Finance (SAF) test has been formally accredited by the National Skills Academy for Financial Services (NSAFS).
The warranty renewal route is many and varied - should it be administered by the sales or aftersales team, the warranty provider, manufacturer or a customer contact centre?
Mazda has announced a combination of offers to give its core models a sales push through 2013's first quarter.
New car finance provided through dealerships recorded double-digit growth for the tenth consecutive month in October, according to the latest figures from the Finance & Leasing Association (FLA).
Sue Robinson, the RMI National Franchised Dealers Association director, has welcomed measures in the Chancellor's Autumn Statement which ought to help motor retailers.
Car dealer technology company iVendi has launched a new online credit checker which can prequalify a customer for credit.
General Motors has agreed to buy the rest of Ally Financial international auto-finance businesses, including operations in Europe, in a deal with proceeds of $4.2 billion.
Dealers struggling to arrange funding for day-to-day operations, or to expand, should consider switching from high street banks to a manufacturer’s captive equivalent.
The RMI is urging dealers to shop around for the best deal on funding.
Tim Marlow, owner of luxury broker Bridford Financial Solutions, has joined the board of DSG Financial Services as director and shareholder with immediate effect.
Yorkshire-based Car Care Plan has been sold by its US owners for £44 million to AmTrust Financial Services.
The National Franchised Dealers Association (NFDA) has put together an information pack to help dealers implement the Office of Fair Trading’s (OFT) guidance for disclosing commission.
Consultation has begun on the way the OFT can ‘shut down’ businesses by suspending their Consumer Credit Licences in certain circumstances.
