Dealers struggling to arrange funding for day-to-day operations, or to expand, should consider switching from high street banks to a manufacturer’s captive equivalent.
The RMI is urging dealers to shop around for the best deal on funding.
Tim Marlow, owner of luxury broker Bridford Financial Solutions, has joined the board of DSG Financial Services as director and shareholder with immediate effect.
Yorkshire-based Car Care Plan has been sold by its US owners for £44 million to AmTrust Financial Services.
The National Franchised Dealers Association (NFDA) has put together an information pack to help dealers implement the Office of Fair Trading’s (OFT) guidance for disclosing commission.
Consultation has begun on the way the OFT can ‘shut down’ businesses by suspending their Consumer Credit Licences in certain circumstances.
Big, retail outfits such as Comet - like the motor dealer groups of the day - effectively controlled the way most goods reached consumers. The internet has changed that, of course, and is the central reason for Comet’s collapse.
A majority of small businesses are now looking to invest in their business spurred on by the 1% increase in GDP.
UK growth could be stifled next year if European economic powerhouse Germany goes into recession.
McLaren Automotive has entered into a Financial Services Marketing Agreement with Investec Asset Finance to offer finance options to UK customers at its dealerships.
Creating an F&I culture where business managers are an integral part of the team is key to business success, according to Drive Motor Retail managing director Paul Manning.
Dealers are eating into their bottom line by “taking up the slack” caused by a 30% surge in the number of courtesy cars insured through their own motor trade policy during the last four years, according to DCML.
A man who ordered an assault on the boss of Sterry Bridge Autos over an alleged £250,000 debt has been sent to prison.
Used car provenance checks by automotive trade companies between April and June this year show that 26.1% of used cars had outstanding finance.
Automotive retail insolvencies increased slightly by 0.6% to 46 businesses in September.
Malaysian carmaker Perodua is offering 0% finance on its Myvi SXI if customers buy before the end of December.
Harwoods Group reports increased finance sales and repeat custom since installing web-based software from Chrysalis-Solmotive.
Mitsubishi Motors in the UK is now claiming to offer the longest warranty of any pick-up truck in the UK marketplace.
Crewe-based dealer network Swansway Group has generated £250,000 of additional profit by using its customer relationship management system to target the right customers.
Wessex Garages managing director Keith Brock is moving banks to increase his dealer group’s working capital after its previous bank was unhelpful with funding for its expansion plans.
