The Financial Conduct Authority has today announced a new consultation on proposals to limit point-of-sale offer of GAP insurance.
Devising a profitable stocking policy is not straightforward, but modern dealers have the benefit of new analysis tools, better market data and increased finance options
BMW Group Financial Services believes it has taken a market leading position in introducing a capped dealer finance rate. But in this in-depth interview it says this is the first step in ensuring the customer comes first – and it is now trialling a further reduced rate.
The Financial Conduct Authority has reported that nearly 30% of interim permission holders that had the landing slot of October 1 to December 31, have not yet responded or submitted an application. This period was the first wave to include motor dealers.
UK service plan provider EMaC has been acquired by the Innovation Group, a global provider of business process services and software solutions to the insurance, fleet, automotive and property industries.
Fines totalling £928,00 imposed on three former senior Swinton Group executives highlight that 'dealers will be held responsible' for any FCA compliance failures.
Car dealer groups have expressed concern at a lack of consistency among lenders over how to introduce compliance with new Financial Conduct Authority regulations.
Major franchised dealers could be hit with demand for up to £7,500 in fees when they file their consumer credit application to the Financial Conduct Authority.
Cabot Square Capital, financial services private equity investor, has acquired Blue Motor Finance, the car finance provider.
Product Partnerships, a compliance management solutions company based in Yorkshire, has become authorised by the FCA as a Consumer Credit FCA principal firm focusing on the motor dealer sector.
The cultural shift among mortgage lenders is on-going as the industry grapples with new regulations which place customers at the top of the agenda, according to Grant Thornton director for banking and mortgages Tony Moroney.
The Financial Conduct Authority's ‘treating customers fairly’ principle means big changes for car dealers' relationships with finance brokers.
New figures released today by the Finance & Leasing Association (FLA) for September show 12% growth in consumer new car finance, compared with September 2013.
New car registrations increased 14.2% in October to 179,714 units, marking the 32nd consecutive month of growth.
The Finance & Leasing Association (FLA) expects year-on-year increases in loans from its members for retail purchases of new and used cars through dealerships to continue until the end of the year.
Videos are predicted to become an increasingly important sales tool on dealers’ websites alongside a wider range of products to increase F&I revenue.
GAP pricing transparency would be the biggest single advantage that the FCA could provide to help new and used car customers make more informed choices.
The Funding Corporation this month launches Inisium, a non-prime HP loan of up to £10,000 for buyers of used and, for the first time, new cars.
Automotive Compliance, the appointed representative (AR) network working within general insurance meditation specifically for the motor industry, has been confirmed by the Financial Conduct Authority (FCA) as a principal firm for consumer credit.
With many dealers’ slots to apply for full FCA authorisation being moved forward, with a deadline of December 31 in many cases, businesses must be prepared, warned the NFDA's Louise Wallis.
