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Finance round-up

Service plans ‘48% up’
Sales in 2010 by service plan provider Emac have risen by 48% year-on-year, says managing director Angela Barrow. To combat falling aftersales revenue Emac consultants now have joint meetings with dealerships’ sales and aftersales managers to assess the sales potential. Matt Walton, Sandicliffe Motors group service manager, said: “Emac was prepared to invest in developing technology and support that made selling service plans a very attractive and effective proposition in retaining customers.”

Motor finance rises
Consumer credit from members of the Finance & Leasing Association fell by 6% in September year-on-year and dealer motor finance was the only sector to rise (up 2%). Personal loans were down by 5% and the High Street was hardest hit by the decline in consumer spending. Credit card spending slumped by 8% and store card purchases by 22%. Fiona Hoyle, FLA head of consumer finance, said: “Consumers continue to take a cautious approach to spending.”

Financial crime conference
Finance lenders and associated companies will be briefed on the latest trends at the FLA’s automotive financial crime conference in Brandon, Warwickshire, on March 17. Delegates will be given market intelligence on financial crime trends, guidance on how to respond to emerging crime linked to vehicle finance and told how to identify new ways in which criminals are seeking to commit financial crime.

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