Oodle Car Finance has appointed former Zopa and CapitalOne man Andrew Lawson as its new chief product officer on the back of the firm recently closing its £350m asset-backed securitisation (ABS).
Large majority of car-buyers have confidence in dealer’s point-of-sale finance products, but online change is coming, finds study
The Financial Conduct Authority (FCA) has opened a consultation in a bid to ban car retailers’ discretionary finance commission model – saving UK car buyers an estimated £165 million a year.
Santander Consumer Finance (SCF) has delivered an end-to-end online loan application solution for car dealers following a nine-month development programme.
Research from Zopa has shown that UK car buyers are confused when picking which car finance option is the best to fund their next purchase.
The Finance and Leasing Association (FLA) has reported that the automotive retails sector’s point of sale finance business declined by 2% during August.
Evolution Funding will look to improve its consumer-facing motor finance proposition following the appointment of Kirsty Watson as head of direct to consumer engagement.
On December 9 this year, the Financial Conduct Authority’s (FCA) Senior Managers and Certification Regime (SMCR) for consumer credit firms – including motor finance sellers – comes into effect.
The Financial Conduct Authority (FCA) has to be sure that any regulatory changes introduced by the in light of its recent review of the motor finance sector “don’t have unintended consequences”.
Dealtrak has added to the nine appointments and promotions announced in June with the addition of four new members of staff as it aims to ‘bolster its in-house expertise’.
BNP Paribas Personal Finance has teamed up with Arval to offer UK car retailers a “one stop shop” vehicle stocking product which will allow traders to purchase and finance used stock at the same time.
The Government’s recently Operation Yellowhammer ‘no deal’ Brexit contingency plan will have notable implications for the motor finance sector, according to Bluestone Credit Management.
The Finance and Leasing Association (FLA) has reported that new business in the point of sale (POS) consumer car finance sector rose 5% by volume during July.
In a bid to professionalise finance industry employees, attract young talent, and provide career progression for staff, the Finance & Leasing Association (FLA) has been promoting Motor Finance Specialist Apprenticeships, created in line with the Government-approved level 3 apprenticeship standard.
The point of sale (POS) car finance market posted year-on-year declines of 3% by volume and 2% by value across both new and used car sectors during June, according to the Finance and Leasing Association (FLA).
Buyacar has advised car buyers to steer clear of costly options funded by a PCP finance plan – branding the resulting uplift in monthly payments a “rip-off”.
Inchcape Retail has seen 20 of its business managers pass the IMI Accreditation for Finance and Insurance standards.
An ‘Incubator’ training scheme has been launched by iVendi as part of efforts to upskill its new recruits for the automotive finance sector.
Startline Motor Finance has appointed former Santander UK man John Bannerman as its new head of customer services.
Car buyers will demand greater flexibility from their car finance agreements in the event of a hard Brexit, according to Startline Motor Finance.
