The Government has announced a reduction in the beneficial interest loan rate from 3.25% to 3% from April 6.
As used car finance grows in importance, independent dealers face greater demands to comply with the credit watchdog.
The practice of requiring consumers to opt-out of purchasing add-on products is to be outlawed by the Financial Conduct Authority.
In an exclusive interview, Alphera Financial Services’ director Andy Gruber outlines the company’s goals and his hopes for the sector: how dealer finance penetration can exceed 80% in 2016 and the benefit of a TripAdvisor for the finance providers.
A survey has revealed that 43% of dealers think that new Financial Conduct Authority (FCA) rules will have no impact on finance sold in showrooms, with a further 19% expecting the impact of the changes to be positive.
Alphera Financial Services has revealed the details of the new pricing structure for its dealer and broker partners across the UK. The new approach will be rolled-out across its partner network from January 1.
AM and Auto Trader’s Digital Marketing Conference will be back for the third year running when it takes place at Birmingham NEC on 12 February 2015.
Motor Codes launched a new code of practice for warranty providers this summer, after several high-profile failures. Automotive Management asked suppliers about its impact
Dealers should embrace the new era of the Financial Conduct Authority (FCA) or risk the imposition of a stricter structure which other industry sectors have been forced to adopt, delegates at AM’s new F&I Compliance Conference will be told.
The Financial Conduct Authority (FCA) may seek to remove the point-of-sale advantage from used car motor finance if similar moves with GAP insurance are successful, said James Tew, director at iVendi.
Financial Conduct Authority guidelines and new customer rights legislaton could force dealers to pass on higher prices to customers.
The Financial Conduct Authority (FCA) seems certain to introduce a ‘time to consider’ clause in GAP insurance policies sold at point of sale, which could reduce a valuable revenue source for dealers and F&I providers.
