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Finance round-up

European Laser vision

A £250m-plus takeover of Belfast-based Open and Direct Retail Services by Creation Financial Services means the introduction of the European Laser brand into the UK, and the combining of Belfast-based Open and Direct’s retail finance expertise with Creation’s credit and loyalty marketing programmes.

Modus service deal offer

Renault is extending the initial three-year £100 service cover package from the 1.4 Oasis model across the range, claiming a £575 consumer saving over 36,000-miles. Under the Liberty Service Plan banner, it covers routine servicing. For an additional £400, the level of cover includes wear and tear items.

Capital increases commission

Despite concern expressed by senior Capital Bank management about retailer ‘commission dependency’, the lender has increased commission on a new personal loan product. Capital Bank claims the move, to increase rates from £100 to £120 per deal, is a “short-term, tactical measure designed to enable supporting dealers to take full advantage of business generated by March registrations”.

Acting on Impulse

Reading-based Impulse Motor Company has been refused a consumer credit licence by the Office of Fair Trading because a director received a conviction for kidnapping and causing grievous bodily harm in November 2001.

Barclays’ affinity scheme

GE Fleet Services is administering a car purchase and finance affinity scheme for Barclays in the UK. Barclaysbuyacar covers Renault, Saab, Mercedes and Vauxhall models, and according to Barclays head of HR reward and benefits, Catherine Redmond, it provides significant savings and cost benefits.

HPI goes public with eBay

HPI is intensifying its eBay role by providing vehicle status reports to buyers on the online market. eBay Motors claims that providing vehicle status reports opens up a wider audience to clear that dealer stock.

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