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.
WhatCar? is advising its readers to buy a new car instead of a one-year old version of the same model due to competitive finance and low interest rates.
Consumer new car finance was up 10% by volume and 16% by value in September, compared with the same month last year, according to figures from the FLA.
Digital search dominates how customers find their next car, but other areas are still important, according to new research by MotoNovo Finance.
A study by Hitachi Capital Motor Finance claims dealers could miss out on as much as £246 million a year in finance revenue on used vehicles.
Consumer confidence, dealer expertise and support from finance houses have led to PCP success in the past 12 months.
Carfinance247 has launched a new service on its website that puts customers that have applied for finance in touch with dealers that can sell them a vehicle.
The majority of delegates at the Finance & Leasing Association’s (FLA’s) latest conference (62%) said they felt well prepared for the new FCA regulatory regime.
Volkswagen Financial Services has appointed Iker Lazzari to the newly created role of head of sales and marketing.
John McConnell has stepped down as group finance director at Inchcape.
Dealers are likely to experience more intrusive relationships with their finance suppliers under stricter rules made by the Financial Conduct Authority (FCA).
James Tew, Ivendi chief executive, believes the industry needs to be offering more choice for motor finance at point of sale to avoid further FCA regulation.
Ford is offering young drivers between 18-24 up to £2,240 towards insurance to help reduce the cost of motoring.
iVendi has updated its recently-unveiled online motor finance decisioning tool to make sure it meets new Financial Conduct Authority (FCA) requirements.
UK car dealers have recorded an 11% reduction in guaranteed asset protection (GAP) insurance sales this September.
Close Brothers Motor Finance employees have raised over £1,200 for participating in the London to Brighton bike ride to help raise funds for Cancer Research.
Close Brothers Motor Finance has expanded its sales team in England with nine new appointments.
