Motor dealers are waiting until the last minute to apply to the Financial Conduct Authority (FCA) for interim permission to continue providing motor finance, according to finance technology iVendi.
The new Honda Civic Tourer arrives in dealerships this week and will be available with finance offers including low monthly payments and 0% APR.
Figures released today by the Finance and Leasing Association (FLA) show that 74.2% of private new car sales were financed by FLA members in 2013, up from 71.2% the previous year.
Average payment protection insurance (PPI) pay outs are totalling £450 million a month and a BBC Radio 4 report is linking it to the boost in new car registrations.
Personal contract purchase (PCP) deals drove the new car market in 2013, but there are concerns for their future growth
The National Franchised Dealers Association (NFDA) today launched NFDA Compliance, a suite of resources to support its members as consumer credit regulation transitions to the Financial Conduct Authority (FCA).
One of the biggest stories at NADA 2014, the recent National Automobile Dealer Association conference in New Orleans, was the transparency of finance commission.
Volvo UK focussed its dealer network on selling PCPs in 2013 rather than large cash discounts and sales director Jon Wakefield is expecting the finance product to boost volumes further this year.
Motor retail lenders are urging dealers to prepare for online searches to increasingly influence how customers select cars and loans in 2014.
The gap between the most advanced car dealer websites and those “stuck in the last decade” is probably wider then ever, experts have warned.
Finance & Leasing Association has added an ‘ask an expert’ tool to its new consumer website.
Consumer new car finance grew by 7% to £878 million by value in November (55,941 units), according to the latest figures released by the Finance & Leasing Association (FLA).
Mazda is offering zero deposit and 0% APR PCP deals on all Mazda6 saloon and tourer models to help boost Q1 sales between now and March 31.
Motor finance will change “significantly” this year and dealers should be ready for a year of transition, according to dealer technology company iVendi.
Dealerships that fail to raise the standards of how finance is offered online and on mobile devices run the risk of customers looking elsewhere
Car dealers need to maximise their opportunities in 2014 through adopting new lead-generating tools and a renewed focus on finance
Senior motor finance executives offer their 2014 forecasts.
Car dealers facing reduced margins in add-on products such as GAP insurance are working with suppliers to ensure compliance before the FCA investigation concludes
Expert advice and dealer case studies from AM's Hit for Six conference on the six crucial aspects of franchised motor retailing: used cars, new cars, finance, insurance, digital and aftersales.
Forthcoming changes in consumer credit regulation may help dealers to get better penetration rates on warranty sales
