Motor finance complaints have more than tripled year-on-year to 73,328 for 2024/25, putting even further emphasis on the need for consumer engagement.
Secure Trust Bank, which owns V12 Vehicle Finance, has confirmed it is pulling out of the motor finance market.
More than 23 million people believe they could be owed compensation if the way car loans were sold is ruled to be unlawful.
The UK's motor industry is awaiting the outcome this month of April's Supreme Court case concerning car loans commission and dealers' responsibility to customers, but firms have been urged to prepare.
The Financial Conduct Authority has set out some of the factors it will consider if it launches a UK-wide consumer redress scheme as part of its review into car loans commission.
MotorEasy has launched a new GAP insurance product tailored specifically for leased vehicles offering cover if the car is written off and the insurance payout falls short of covering the remaining lease balance.
iVendi is partnering with customer engagement specialist Barbuck to help dealers connect with potential finance customers by turning online interest into real-time conversations.
The UK's motor finance industry must wait until the summer to hear whether the Supreme Court will overturn the notion that lenders and their partner car dealerships have been unfair with their customers because of the finance commission paid to dealers.
The National Franchised Dealers Association (NFDA) today fiercely countered accusations that its members have engaged in bribery for decades as the Supreme Court appeal continues
A landmark Supreme Court case could determine the fate of a potential £44bn compensation bill linked to undisclosed dealer commissions.
Eddie Flanagan, partner at law firm Shakespeare Martineau, notes that it while a spotlight remains on the UK's motor finance market due to important legal actions it is critical for lenders to be continuously refining their data and practices.
A dealership’s point of sale experience has a vital part to play in having success with warranty and insurance add-on sales. Which is why Automotive Management is delighted to publish this special report, The Business of Warranty and Add-on Insurance, sponsored by Car Care Plan.
In the latest in Automotive Management's '5 Minutes With...' series, deputy editor Aimée Turner caught-up with Bumper’s head of sales Dan Christie.
Lloyds Banking Group, which owns Black Horse Motor Finance and Lex Autolease, has put another £700 million into its pot for potential compensation while it awaits the outcome of the car loan commission saga at the Supreme Court.
The FCA ramped up its crackdown on misleading financial promotions in 2024, forcing nearly 20,000 ads to be withdrawn or amended - almost double the 2023 figure.
The second part of our review of the most-read articles of 2024
The Financial Conduct Authority (FCA) has announced an extension for firms to respond to complaints about motor finance agreements that do not involve discretionary commission arrangements (DCAs).
Former Lookers executive Paul Bentley has been recruited by the National Franchised Dealer Association.
The motor retail industry is being urged to have its say on a proposal from the Financial Conduct Authority to let dealerships and finance providers delay their responses to consumer complaints about 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.
