Mann Island Finance has hit the £1 billion lending milestone, which it says cements its position as a “significant player” in the UK motor finance sector.
Almost three out of four dealers (73%) believe measures to meet the FCA’s Consumer Duty responsibilities will create new opportunities, according to iVendi.
Voluntary terminations, voluntary surrenders and repossessions rose in May 2023 to the highest level for nearly two years, according to the Motor Auction Group.
The Financial Conduct Authority (FCA) is proposing new rules to combat non-compliant financial promotions on social media platforms.
The NFDA is urging its motor retailer members to get in touch if they need additional support ahead of the new Consumer Duty regulations that launch on July 31.
Dealers’ awareness of new Consumer Duty regulations has increased from 28% to 91% over the last quarter, according to Close Brothers Motor Finance.
Finance penetration rates for new and used car funding is slowing, but increasing APRs are having limited impact on engagement according to new research from Auto Trader.
AAM Group, the vehicle leasing and rental group, is restructuring its Best Car Finder division to collaborate with its MyCarDirect vehicle subscription service which competes with car dealers.
Letting customers self-serve their motor finance needs is proving the most effective route to Consumer Duty compliance, iVendi is reporting.
The Financial Conduct Authority (FCA) has found motor insurers need to improve how they treat vulnerable customers and handle claims, and end paying out low for write-offs
Alphera Financial Services is providing free training videos and documents to help prepare for the FCA’s Consumer Duty regulations on July 31.
Motor finance deposits and payments have stayed “remarkably consistent” over the last 12 months despite ongoing interest rate pressures, says iVendi.
Auto Trader's Retail Price Index has shown that the average retail value of used cars has increased by 3.5% compared to last year's levels, which were already 24% higher than in 2021.
Volkswagen has launched a 0% finance campaign for its ID.4, ID.5 and the outgoing ID.3 from now until October 2.
Ivendi is launching a new product range this week designed to act as a “single point solution” to dealer Consumer Duty compliance.
Nearly two-thirds (59%) of young drivers (18–34 year olds) are considering flexible car ownership models, according to new research from Churchill Expert.
The advertising watchdog has censured Marshall Motor Group with a ruling that could have implications for all car dealers advertising used cars with a price drop.
Ivendi has taken the experience of 8,000 retailers, manufacturers and finance partners to create a free step-by-step guide to the new Consumer Duty regulations.
Nearly 60% of automotive retailers are urging more support from motor finance providers to retail electric vehicles (EVs).
The Financial Conduct Authority (FCA) has warned there will be "swift action" for those that ignore its new Consumer Duty standards.
The presence of a powerful and active regulator in the marketplace, the Financial Conduct Authority, means there has never been the attention given to the critical driver of new and used car markets, point of sale finance and insurance.
Law firm Walker Morris has appointed Russell Kelsall as a partner and head of consumer and motor finance in its regulatory team.
An April 30 deadline for motor finance providers to issue product reviews to their retail partners will put car dealers on a “compressed timeline” to deliver compliance with the Financial Conduct Authority’s new Consumer Duty regulations.
Car finance products are amongst the most confusing automotive terms for car buyers and it could be hampering sales, according to new research.
AutoProtect is urging automotive retailers that are offering PCH finance to consider how consumers can be better protected in the event of a vehicle write-off.
