Failing to report early suspicions of fraudulent activity to the finance regulator has left Bank of Scotland with a £45.5 million fine.
PCH poses no risk to PCP’s growing dominance of used car finance, but finance experts believe subscription-based disruptors may still threaten market share
The motor finance sector’s prime lenders appear to be tightening their lending rules just at a point in time when used car retailers need greater flexibility from their motor finance, says Startline.
Kelly Ventham has been named as the Startline Motor Finance’s head of client relationships and acquisition in a role which will see her lead a newly-created client relationships team.
Used car operations continue to provide valuable profit opportunities for dealers of all sizes. It is clear that finance has a vital role to play in both attracting the customer and closing the sale.
The Financial Conduct Authority is freeing consumers from full back-dated interest charges when they partly pay amounts owed under ‘buy now, pay later’ (BNPL) finance deals.
Close Brothers Motor Finance has exceeded last year’s fundraising record and raised £33,500 for Make-A-Wish and Cancer Research UK.
The Finance and Leasing Association (FLA) has revealed that new business in the point of sale (POS) consumer new car finance market fell 2% by value and 7% by volume in April.
New 5G mobile networks could “revolutionise” some aspects of online motor retail and how dealers present vehicles, says iVendi.
DealTrak is following up the recruitment of five new faces and and the completion of several internal promotions with a recruitment drive to fill nine new roles in preparation for its "biggest year-to-date".
Secure Trust Bank hopes to bring more independent and small franchised dealers on board after launching a new proposition blending wholesale finance, stock sourcing and consumer finance for car purchase and repairs.
Vauxhall is offering car buyers a minimum £4,000 guaranteed scrappage allowance or £3,000 extra part-exchange value as part of its new scrappage-style Trade-Up sales campaign.
Volkswagen Commercial Vehicles (VWCV) has launched a new used van finance calculator to help customers find the deal that suits them best.
The Financial Conduct Authority (FCA) and Prudential Regulation Authority (PRA) have fined R. Raphael & Sons plc (Raphaels) for failures in the management of its outsourcing arrangements.
Auto Service Finance (ASF) won its second FinTech award this time at the Credit Strategy’s Credit Awards 2019 in the Alternative Lender of the Year category.
Specialist Motor Finance (SMF) has announced the appointment of Jim Cowell to the senior role of business development manager with the company.
Funding a vehicle through retail finance offers has become more expensive in Q2.
Glasgow-based near-prime lender Startline Motor Finance has secured a new £325 million credit facility from multinational investment bank J.P.Morgan.
Vauxhall has adopted Free2Move Lease as its dealer network's new business contract hire funder.
Cazoo has announced that Alex Gersh, formerly chief financial officer of Paddy Power Betfair, has joined as its first CFO.
