Our new December 2020 issue of AM magazine is out now here with vital insights into January's FCA motor finance changes and a study of lockdown 2's impact on car dealers.
COVID-19 ‘Lockdown 2’ has sparked a rapid rise in the volume of digital car finance deals being forwarded to dealership customers, according to iVendi.
Peugeot has increased its deposit contributions by £950 as part of an “Exclusively for You” offer giving motorists up to £8,100 off until the end of 2020.
Some vehicle manufacturers may delay new car price increases as a result of a no deal Brexit until March 2021, according to Automotive Services International (ASI).
Startline Motor Finance has secured a £375 million credit facility from J.P.Morgan in what is the third renewal and upsize of the facility between the two companies.
Consumer motor finance defied September’s 4.4% new car registrations dip to record a 7% year-on-year rise in volumes and 11% growth by value, according to the Finance and Leasing Association (FLA).
The Finance and Leasing Association has raised concerns about the new coronavirus payment deferral scheme proposed by the Financial Conduct Authority at the weekend.
Car finance payments outweigh rent or mortgage payments for one in four UK drivers aged under 55, according to an Opinium and InsureTheGap survey of 2,000 motorists.
Wilsons Auctions has launched a dealer stock funding service in partnership with V12 Vehicle Finance, part of Secure Trust Bank.
Evolution Funding picked up two awards at the 6th annual Motor Finance European Conference and Awards 2020, including Intermediary of the Year, for the fourth year.
Alphera Financial Services said it has seen "significant growth" in the number of customers using its digital and online platforms.
A finance company demanded £2.3 million in compensation from a used car dealer who breached the terms of numerous motor finance loans through a series of “illegitimate side agreements”.
Forthcoming Financial Conduct Authority (FCA) changes to the motor finance sector should be embraced as a “promotional and profit opportunity” by used car dealers.
Paying up front for a new vehicle has continued to slow down as an increasing number of consumers demand increased flexibility, according to research from Close Brothers Motor Finance.
The UK’s consumer car finance market grew 1% by volume and 8% by value during August, according to new data from the Finance and Leasing Association (FLA).
AutoGuard Warranties has opened it’s second office in Belfast city centre to provide additional support to its network of dealers in Northern Ireland.
Car retailers have been urged not to not put their preparations to comply with the Financial Conduct Authority’s (FCA) Senior Manager Certification Regime (SM&CR) “on the back burner” as a result of the recent deadline extension.
Dealers need to be considering their lending panels to ensure they are fit for the COVID-19 coronavirus era used car market, says Startline Motor Finance.
Almost a quarter of used car retailers have turned to Government-backed COVID-19 recovery loans or overdrafts to fund their forecourt stock since lockdown, NextGear Capital has found.
Santander Consumer Finance claims that it will “reduce margin costs and maximise sales” for car retailers with the launch of its new Your Red Car online marketing platform early next year.
