Providing car loans and other forms of motor finance is a critical role of dealerships that must continue in the future as buying habits and technology advance, believes Mike Allen, the managing director of Cambria Private Capital, a firm that invests in and provides advisory services to automotive startups and scaleups.
Dealerships risk a halt to their car loans provision in 2025 if they've not put staff through the Specialist Automotive Finance accreditation programme, warns Lisa Watson, sales director at Close Brothers Motor Finance.
While there are positive signs of an industrial strategy for automotive and investment in EV infrastructure, the new government's actions will be determined by political uncertainty and competing national priorities.
The Financial Conduct Authority has found "issues" in the ways that motor finance was offered or incentivised in the past and the ongoing review will determine the breadth of those issues, and what system of redress will be needed. That's according to FCA chief executive Nikhil Rathi.
Mike Todd, chief executive of Volkswagen Financial Services UK, says the automotive sector needs to ensure the Consumer Duty standard remains a driving force for continual improvement as it looks to meet the changing demands of customers.
AM examines fears that regulator views on Guarantee Asset Protection’s value to consumers may kill off a product once hailed for its profitability
Motor finance firms are exploring the role of AI (artificial intelligence) in supporting car loan sales and FCA regulatory compliance
Talk of Mobility as a Service (MaaS), car subscriptions plus a new era and approach to vehicle funding seems to have quietened down considerably of late.
Two recent car loan misselling cases heard by the Financial Ombudsman Service (FOS) against Black Horse Motor Finance and Barclays Partner Finance have been mentioned by the FCA as particularly influencing its decision to dive deeper into this issue.
While watched by the Financial Conduct Authority, finance and insurance still delivers welcome profit for car dealers. Debbie Kirlew reports
Mike Todd, chief executive of Volkswagen Financial Services UK, ponders the need for motor retail to offer options which cater for all preferences, now and in the future.
The Financial Conduct Authority wants to reduce the risks of finance promotions on social media. AM examines what it means for motor retailers' marketing.
Darren Mornin, Next Gear Capital managing director, discusses stock funding and how the business is working with retailers to expand their businesses
Mike Todd, Volkswagen Financial Services UK chief executive, believes the new Consumer Duty regulations will encourage a renewed focus on customers.
In this latest '5 Minutes With' interview, I ask Alphera Financial Services director Alex Royall about some of the work UK motor retail is doing ahead of changing FCA regulation, including affordability checking when a consumer wants to buy a car.
Mike Todd, chief executive of Volkswagen Financial Services UK, shares his thoughts about the Financial Conduct Authority's new Consumer Duty regime which begins on July 31.
Experts point to some of the structural elements which could help make car dealerships more sustainable in tough economic conditions, from rates reviews and refinancing to tax reliefs.
Car finance sales opportunities remain for motor retailers despite tougher economic conditions, new business models and the upcoming FCA Consumer Duty requirements
Digitalisation and flexible monthly payments or usership plans could pave the way for further innovation in the field of vehicle finance
Much has been made of Prime Minister Rishi Sunak’s recent pledge to boost the economy, with commentators analysing how his priorities for 2023 will impact various sectors.
Armed with the right motor finance solutions, dealers are well placed to help buyers into their next used car despite the storm of high vehicle prices, rising interest rates and squeezed budgets.
In his latest column for AM, Volkswagen Financial Services UK CEO Mike Todd suggests the automotive sector enters the new year in more resilient form than than ever before.
In the latest in a series of guest opinion posts for AM, Volkswagen Financial Services UK chief executive Mike Todd considers how putting green travel under the microscope at COP27 will affect UK car retail.
As the October 31 deadline for implementation plans for FCA Consumer Duty looms, compliance experts share their advice for UK motor retailers.
As consumers are coming under increasing financial strain from soaring inflation and the cost-of-living crisis, so car dealerships are stepping up to help them through these challenging times.
