The Financial Conduct Authority (FCA) and Prudential Regulation Authority (PRA) have fined R. Raphael & Sons plc (Raphaels) for failures in the management of its outsourcing arrangements.
Auto Service Finance (ASF) won its second FinTech award this time at the Credit Strategy’s Credit Awards 2019 in the Alternative Lender of the Year category.
Specialist Motor Finance (SMF) has announced the appointment of Jim Cowell to the senior role of business development manager with the company.
Funding a vehicle through retail finance offers has become more expensive in Q2.
Glasgow-based near-prime lender Startline Motor Finance has secured a new £325 million credit facility from multinational investment bank J.P.Morgan.
Vauxhall has adopted Free2Move Lease as its dealer network's new business contract hire funder.
Cazoo has announced that Alex Gersh, formerly chief financial officer of Paddy Power Betfair, has joined as its first CFO.
Subscription and membership-based models are seen as a major revenue opportunity by three-quarters of automotive industry leaders.
Changed job descriptions for dealerships’ business managers may be one outcome of the Financial Conduct Authority’s probe into motor finance, says Andrew Smith, FCA expert
Hyundai Motor UK is offering customers awaiting delivery of its Kona EV electric vehicle access to a short-term lease giving access to an Ioniq EV hatchback in a bid to mitigate the effects on long lead times.
Volvo has become the third largest manufacturer in the personal leasing market, according to Leasing.com.
Stoneacre Motor Group has joined forces with AutoConvert in pursuit of an all-encompassing approach to lead management which fuses detailed lead tracking with paperless online finance applications.
Traditionally the used car market in April is buoyant and there are plenty of retail buyers on the forecourt but that has not been the case in 2019.
Growth in used car finance drove a positive month of sales in April, according to lead management experts Dealerweb.
The Finance and Leasing Association (FLA) has revealed that the point of sale (POS) consumer car finance market fell 1% by volume in March, compared with the same month in 2018.
A suspected hammer attack has caused an estimated £25,000 worth of damage to more than 30 vehicles on a used car retailer’s forecourt.
Dealerweb has appointed Heather Upchurch as the company’s first chief technology officer to support the next phase of growth.
Perrys Motor Sales has said that its launch of the new Perrys Leasing service has come in response to the “seismic shift of millennials preferring to rent rather than buy products and services”.
Rules proposed under the Government’s Good Work plan could have a big impact on car dealers that use agency workers
The Financial Conduct Authority’s findings on commissions, information disclosure and affordability have big implications for the motor retail industry
The Finance and Leasing Association (FLA) has relaunched its Specialist Automotive Finance (SAF) programme with an improved range of training options for dealership staff.
FCA clarity on commission fees is good news, say most industry observers
There needs to be a sweeping change in the role of technology both at the point of sale and online, placing consumers in control of their finance experience and just as importantly to provide lenders with a rigorous record of the customer’s finance buying experience.
Cost controls and transparent performance updates are essential to retain lenders’ confidence in a struggling economy
The FCA’s inquiry raised serious concerns about car dealers and brokers manipulating finance rates to increase commissions
