Large majority of car-buyers have confidence in dealer’s point-of-sale finance products, but online change is coming, finds study
Startline Motor Finance has appointed former Santander UK man John Bannerman as its new head of customer services.
Car buyers will demand greater flexibility from their car finance agreements in the event of a hard Brexit, according to Startline Motor Finance.
The motor finance sector’s prime lenders appear to be tightening their lending rules just at a point in time when used car retailers need greater flexibility from their motor finance, says Startline.
Kelly Ventham has been named as the Startline Motor Finance’s head of client relationships and acquisition in a role which will see her lead a newly-created client relationships team.
Glasgow-based near-prime lender Startline Motor Finance has secured a new £325 million credit facility from multinational investment bank J.P.Morgan.
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.
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 effect of changes announced by HMRC this week relating to how VAT applies to PCPs will be “limited” as long as sensible residual values are being set by finance companies, says Startline Motor Finance.
Motor finance veteran Peter Cottle has resigned from the role of business development director at Startline Motor Finance.
Startline Motor Finance has reported that it will end 2018 with business volumes up by around 20% on the previous year.
Startline Motor Finance has warned that an uplift in used vehicle prices prompted by WLTP-sparked new car shortages “will not resolve quickly”.
Startline Motor Finance has predicted that dealers may shift their emphasis towards used cars in 2019 as a result of increased economic uncertainty.
Startline Motor Finance is expanding into larger offices following rapid growth over the last year.
Lenders have been called out by Startline Motor Finance for lagging behind on adopting e-agreement capability and impacting dealership finance performance.
Startline Motor Finance has welcomed Kevin Mooney as its new head of business intelligence to provide “expert data analysis”.
Startline Motor Finance has seen franchised car dealerships achieve 50% penetration with a new “flexible prime” PCP product launched only last month.
Car dealers have started rethinking their lending panels as economic pressures start to spark a reduction in the number of customers meeting “prime lender criteria”.
Startline Motor Finance is preparing to push into the franchised car dealer network after securing a new £250 million credit facility from major financial institution J.P. Morgan.
Startline Motor Finance has revealed that it intends to push its services into the top 200 franchise dealer groups as part of a new strategy designed to continue the business' growth momentum.
Automotive Management Live: Where franchised and independent dealers will find everything they need to know about operating a modern showroom and service and repair facility fit for the digital age.
When: November 12 2020
Where: Birmingham NEC
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