The motor finance industry is urgently calling for a pause on regulatory action and court cases over motor finance commission.
Clear, upfront disclosure of commission to ensure informed consent will be critical for providers of motor finance following last week’s shock Court of Appeal decision which saw several major industry names suspend lending in order to take stock of the implications of the ruling.
Shares in Close Brothers have taken a sharp hit in the wake of a landmark ruling by the Court of Appeal, which determined that motor finance brokers must provide full disclosure on commissions when arranging car loans.
Used car marketplace Motorway is launching a new insurance product designed to protect dealers from mechanical and electrical issues when buying used vehicles online.
Cybercrime is an ever-evolving threat for every business, and the automotive industry is not immune, according to Gary Higham, Zuto's chief technology officer.
Robin Brundle's Recyclus Group is the UK’s first industrial-scale recycler of lithium-ion batteries, dedicated to developing a stable supply chain for battery metals.
Volkswagen Finance has been slapped with a £5.4 million fine by the Financial Conduct Authority (FCA) for failing to treat customers in financial distress fairly.
An e-commerce platform is being launched in the UK by Leasys to allow potential new car buyers to easily lease electric and hybrid cars.
Providing car loans and other forms of motor finance is a critical role of dealerships that must continue in the future as buying habits and technology advance, believes Mike Allen, the managing director of Cambria Private Capital, a firm that invests in and provides advisory services to automotive startups and scaleups.
The Financial Conduct Authority (FCA) is undertaking a comprehensive market study into the insurance sector, focusing on the fairness of premium finance products used for motor insurance.
Santander Consumer Finance (SCF) has acquired full-service fleet management specialist CLM Fleet Management, aligning with Grupo Santander's European initiative to strengthen its position as a contract hire service provider for fleets operating company cars.
Lexus is launching a comprehensive warranty package to cover vehicles for up to 10 years or 100,000 miles on all its models, whether new, nearly new, or pre-owned.
The Financial Conduct Authority (FCA) has fined TSB Bank £10.9 million for failing to ensure fair treatment of customers who were in arrears.
Carwow is continuing on the acquisition trail after acquiring Gridserve Car Leasing for an undisclosed sum.
The Finance and Leasing Association (FLA) is searching for a successor for the position of director general following Stephen Haddril's decision to retire next summer.
Dealerships risk a halt to their car loans provision in 2025 if they've not put staff through the Specialist Automotive Finance accreditation programme, warns Lisa Watson, sales director at Close Brothers Motor Finance.
A worsening shortage of replacement car parts is leaving motorists waiting weeks, or even months, for repairs, according to research by insurance broker The Green Insurer.
Independent vehicle leasing and fleet management specialist Zenith has named Richard Jones as its new group chief executive.
The British Vehicle Rental and Leasing Association (BVRLA) has named Toby Poston as its new chief executive succeeding Gerry Keaney who is retiring at the end of the year.
The fintech firm Carmoola claims it will be offering "dealership-beating car finance rates" to win over car buyers now it has secured a major new debt facility worth £100 million with NatWest.
Several key shifts in the UK financial watchdog’s enforcement strategy could see motor retail finance providers subject to far more rapid investigations, allowing less time to respond in a fast-moving enforcement environment.
Consumer pre-approval for motor finance is becoming increasingly important as the industry shifts toward risk-based pricing, according to fintech iVendi.
Car loan providers and dealerships won't need to give a final response to customer complaints related to discretionary commission arrangements (DCAs) for more than a year while the regulator continues to tackle the issue.
Most MOT staff would support calibration companies being allowed to upload calibration certificates directly into the DVSA’s MOT Testing Service (MTS), according to a recent poll conducted by management platform MOT Juice.
A former sales consultant has been fined after pleading guilty to unlawfully retaining and selling thousands of customer records from the car leasing company he worked for in Hertfordshire.
