The cost of failing to check customers’ eligibility for motor finance early in the sales process is costing the average dealership almost £8,000 per salesman each year, according iVendi.
Motor finance provider Moneyway has appointed Richard Cox as its new head of operations.
Oracle Asset Finance Ltd has appointed former Barclays, Direct Line, Nat West and RBS man Mark Catton as its new chief executive.
Dealers have traditionally been slow to embrace online sales, such as finance or GAP, and many are currently resisting selling extended warranties online.
BMW Group Financial Services launches an Innovation Lab to attract start-up firms with disruptive technologies that can help develop new financial products.
Despite a bigger compliance burden, finance levels have grown strongly, but what can dealers do to make sure volumes, values and penetration continue to rise?
PCP finance could be the next mis-selling scandal if salespeople haven’t been clear at the sale, warns The National Association of Commercial Finance Brokers.
Showroom finance sales for new cars rose by 12% in April, according to Finance & Leasing Association figures. By value, it was 17% ahead of April 2015.
BMW UK is preparing to extend its award-winning Retail Online offering to new MINI sales and a specialist used platform for both BMW and MINI brands.
Fears about the effects of a flood of used cars in a market propped-up by PCPs could mean that we are currently living in “the good old days”, a financial analyst has suggested.
Alphera has seen the majority of plug-in vehicle customers opt for personal contract purchase (PCP) as the method for financing their vehicles, rather than the industry’s expectation for personal contract hire (PCH) to be the preferred method.
Alphera Financial Services director Spencer Halil says it will adapt to challenges in the point-of-sale market by sharing knowledge and thought leadership.
With the bulk of FCA consumer credit authorisation now complete, the regulator's focus is likely to shift towards enforcement.
Dealers are being given the opportunity to put their Close Brothers Motor Finance account manager to work thanks to a charity auction for Great Ormond Street Hospital.
The point-of-sale consumer new car finance market grew by 17% by value and 10% by volume in March, according to the Finance and Leasing Association (FLA).
Motor finance provider Moneyway accepted 45% more of its proposals during 2015 than it did in the previous year, according to the business’ latest statistics.
MotoNovo Finance’s unique MotorV8 measurement and reward programme, which evidences dealerships’ FCA compliance, is now benefiting over 3,000 dealers.
The head of UHY Hacker Young’s National Automotive Group has been recognised in the Accountancy Age 2016 ‘35 under 35’ list.
With research highlighting how motorists are avoiding essential car maintenance, dealers could be concerned about their ability to provide a duty of care.
Personal contract hire (PCH) has grown from 5% to 7% of the new car finance market, according to Finance and Leasing Association (FLA) data, obtained by AM.
