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.
Failings in their mortgage sales process have landed RBS and Nat West with a £14.5 million fine from the Financial Conduct Authority.
The ongoing growth in vehicle funding has led to warning for dealers not to become complacent about the vitality of the market.
The Council of Mortgage Lenders estimates that gross mortgage lending reached £19.1 billion in July.
The Financial Conduct Authority (FCA) has found that some promotions for financial products are still falling short of its rules and firms need to do more to ensure that advertisements do not mislead consumers.
Moneybarn, the Petersfield-based subprime car finance specialist owned by Duncton Group, has been acquired by Provident Financial Group in a deal worth £120 million in cash to shareholders.
There has been little research into how customers behave once PCP contracts come to an end, which may mean dealers are in for a shock, writes Prof Jim Saker.
One of the Bank of England's interest rate setters believes rises are unlikely in the near future.
Allianz Global Assistance UK has developed an exclusive MoT protection product for Mitsubishi, designed to complement the existing approved used cars programme.
Consumer new car finance volumes grew by 9% in June, and by 15% in the first six months of 2014, according to figures released by the Finance & Leasing Association (FLA).
A survey of 200 dealerships has revealed concerns over compliance requirements is putting many at risk of losing their credit broker status, with one in five saying FCA regulation is the single biggest challenge facing their business in 2014.
The Financial Conduct Authority has fined an insurance company which actively picked lower income, non-professional consumers as sales targets.
Dealers may have no more than 15 minutes to act on digital enquiries before risking a lost sales chance.
Northridge Finance, part of Bank of Ireland Group, has entered into a formal partnership with UK automotive F&I technology provider Frontline Solutions.
Dealers preparing for plate-change September after the best half-year for new car registrations since 2005 have been urged to retain a focus on their used car sales.
Extended warranty provider Autoguard has entered a new phase of growth signing a three-year deal with industry insurer UK General to provide breakdown cover to customers of independent dealers.
The Financial Conduct Authority (FCA) has found that some price comparison websites operating in the general insurance sector are failing to meet consumers’ expectations of them and, in some cases, the FCA’s regulatory standards.
New car finance volumes increased by 8% in May, according to the latest figures from the Finance & Leasing Association (FLA).
