Dealers are facing a new threat to profit margins as research reveals the impact on specialist car finance take-up of low new High Street personal loan rates.
A new referral service is being rolled out by Close Brothers Motor Finance following a successful pilot with dealers in 2015.
Moves to empower customers will mean that self-service motor finance is set to become a major trend in 2016.
HM Treasury has appointed Andrew Bailey as the new permanent chief executive of the Financial Conduct Authority (FCA).
Point of sale car finance sales benefiting from the ‘continuing strength of consumer confidence’, comments FLA after sharp market growth in November.
Finance broker Dealerplus is offering a full market loan comparison service as part of its new website and refreshed dealer finance software, the Dealer Hub.
Moneyway, the motor finance arm of AIM-listed Secure Trust Bank, has appointed Gaynor Atkinson and Lee Fountain as account managers.
Motor finance technology specialist iVendi have made eight new appointments in just two months as part of the business’ expansion plans.
MotoNovo Finance has launched a new concept in car finance which allows customers to facilitate their own application via an innovative new app.
Close Brothers Motor Finance is calling on dealers to change their attitudes towards industry regulation or face the consequences.
Finance & Leasing Association figures show that the dealer new car finance market saw new business growth of 6% by volume and 13% by value in October.
The FCA is seeking views on whether the level of protection provided to SMEs in its handbook of rules and guidance is “broadly right”.
Tribute was paid to the “energy and resilience” of the car finance sector when Stephen Sklaroff addressed the FLA’s 12th annual Motor Finance Convention.
Renault is offering deferred payments until February 2016 to customers that pay on finance before December 31 to encourage sales in Q4.
Carfinance247 has acquired an additional 10,500 sq ft. of office space at Albion Mill in Ancoats, Manchester, to house the company’s growing workforce.
HR Owen has launched another division of its business with a bespoke insurance concierge service for its high-net-worth clients.
Finance and insurance products face more regulation and scrutiny, but there are still ways for dealers to boost profits.
FINANCE specialist Moneyway’s Motor Finance has extended its product range to offer customers and dealers added flexibility with the option of 120 per cent loan-to-value.
Insurance companies coping with the FCA’s new GAP regulations have nevertheless seen continuing growth in the past year.
Moneyway has confirmed it will start rolling out its product aimed at prime customers at the start of next year after piloting the idea since April.
