The Financial Conduct Authority’s findings on commissions, information disclosure and affordability have big implications for the motor retail industry
FCA clarity on commission fees is good news, say most industry observers
There needs to be a sweeping change in the role of technology both at the point of sale and online, placing consumers in control of their finance experience and just as importantly to provide lenders with a rigorous record of the customer’s finance buying experience.
Cost controls and transparent performance updates are essential to retain lenders’ confidence in a struggling economy
The FCA’s inquiry raised serious concerns about car dealers and brokers manipulating finance rates to increase commissions
PPI continued to account for the vast majority of complaints received by the Financial Conduct Authority (FCA) as the overall number of consumers demanding redress declined by 5% in the second half of 2018.
Despite the delay to Brexit and a broadly flat Q1 for private registrations (down 0.8%), UK customers are continuing to buy cars.
Santander Consumer Finance (SCF) has announced the release of an enhanced renewals platform which offers free training for car dealerships' sales staff.
The Society of Motor Manufacturers and Traders (SMMT) has expressed concerns that the Government’s six month Brexit extension has extended the current period of uncertainty for the automotive sector.
Blue Motor Finance has launched a new tailored stock lending product to support small independent motor dealers.
Car consumers have been turning to shorter lease lengths with less money upfront amid Brexit and general new car market uncertainty, new data from Leasing.com suggests.
The Finance and Leasing Association (FLA) has revealed that new business in the point of sale (POS) consumer car finance market increased 2% by volume and 6% by value in February 2019.
Brexit, a global slowdown and confusion over the future of diesel vehicles have combined to create a crisis of consumer confidence which may have driven 2.4 million motorists away from a new car purchase.
The Finance and Leasing Association’s (FLA) director general Stephen Skarloff will leave the organisation later this year after spending twelve years in the post.
Startline Motor Finance is celebrating after generating a 20% increase in business volumes during Q1 of 2019 – with PCP penetration in the used sector cited as a key driver.
A YouGov survey commissioned by The Motor Ombudsman has revealed that 47% of car owners are unaware that they can extend the vehicle manufacturer’s warranty once it expires.
Up to 50 new jobs are due to be created by Startline Motor Finance this year as the business transfers its customer services function in-house.
The Financial Conduct Authorities (FCA) Motor Finance Review has finally arrived. The eagerly awaited and long overdue investigation into auto finance has revealed what many in the industry had predicted.
The FCA’s executive director of supervision for retail and authorisations has warned its focus on affordability, business models and culture will not shift.
Northridge Finance has achieved a year of record growth, lending £1.1bn and increasing its funded fleet to 8,000 vehicles with Marshall Leasing.
