Car dealers’ sales processes are suffering from a “lethargy” which sees many customers leave the showroom without having taken a test drive, had their part-ex valued or finance offer calculated.
London-based bank Aldermore has launched a dealer services team to grow in the motor retail sector.
Dealers are facing a new threat to profit margins as research reveals the impact on specialist car finance take-up of low new High Street personal loan rates.
A new referral service is being rolled out by Close Brothers Motor Finance following a successful pilot with dealers in 2015.
Moves to empower customers will mean that self-service motor finance is set to become a major trend in 2016.
HM Treasury has appointed Andrew Bailey as the new permanent chief executive of the Financial Conduct Authority (FCA).
Motor insurance profits could come under pressure from the development of automated cars, according to observations by KPMG and Standard & Poor.
Manufacturers are being forced to introduce deposit contributions on nearly new cars to create differentiation with the monthly rates available on subsidised brand new vehicles.
Point of sale car finance sales benefiting from the ‘continuing strength of consumer confidence’, comments FLA after sharp market growth in November.
Finance broker Dealerplus is offering a full market loan comparison service as part of its new website and refreshed dealer finance software, the Dealer Hub.
Moneyway, the motor finance arm of AIM-listed Secure Trust Bank, has appointed Gaynor Atkinson and Lee Fountain as account managers.
Fix Auto UK has secured a new national agreement to provide motor repair services to one of the country’s top 10 motor insurers.
Ford believes the 2016 new car market could be bigger than 2015 – despite it being one of the strongest on record.
Motor finance technology specialist iVendi have made eight new appointments in just two months as part of the business’ expansion plans.
MotoNovo Finance has launched a new concept in car finance which allows customers to facilitate their own application via an innovative new app.
Close Brothers Motor Finance is calling on dealers to change their attitudes towards industry regulation or face the consequences.
Finance & Leasing Association figures show that the dealer new car finance market saw new business growth of 6% by volume and 13% by value in October.
Activity relating to the VAT treatment of dealer deposits and a possibility some dealers have declared too much VAT has led HMRC to review dealer incentives.
Jeep is expanding on the Black Friday shopping craze by giving customers until December 19 to take advantage of its promotional PCP offering.
The Financial Conduct Authority (FCA) has proposed mandating new tactics designed to help consumers shop around for insurance.
The FCA is seeking views on whether the level of protection provided to SMEs in its handbook of rules and guidance is “broadly right”.
Tribute was paid to the “energy and resilience” of the car finance sector when Stephen Sklaroff addressed the FLA’s 12th annual Motor Finance Convention.
The Financial Conduct Authority has begun consultation on a raft of changes to PPI complaint handling rules.
Renault is offering deferred payments until February 2016 to customers that pay on finance before December 31 to encourage sales in Q4.
Carfinance247 has acquired an additional 10,500 sq ft. of office space at Albion Mill in Ancoats, Manchester, to house the company’s growing workforce.
