The number of new cars bought on finance grew 26% in February year-on-year, according to figures from the Finance & Leasing Association.
New FCA financial regulations will not benefit supermarkets, banks and other direct lenders over dealers, says Richard Hoggart, DSG Financial Services MD.
The FCA's new consumer finance regulations in force from April 1 may bring unforeseen benefits for dealers as well as consumers, said Gerald Grimes, managing director of Hitachi Capital Consumer Finance.
Dealers should use the new Financial Conduct Authority framework to drive change in how they promote loans and deliver a fresh approach digitally aimed at younger car buyers
Everything you need to know about the Financial Conduct Authority and changes to consumer credit regulation and GAP insurance, from AM's special eight-page guide
February used car volumes were up year on year, but NAMA predicts values will remain ‘fairly constant’
The Financial Conduct Authority published its finalised rules for consumer credit companies at the end of February.
The FCA takes control of consumer credit regulation on April 1 and its message to car dealers is simple: Put the customer at the heart of your business ... and prove it
FCA inquiry found a lack of transparency about price and cover of add-on insurance products
The FCA requires consumer credit business such as car dealers to abide by 11 principles of business
The FCA has imposed heavy penalties for breaches of its rules in other business sectors
Stoneacre Motor Group has won the Treating Customers Fairly award at the 2014 F&I Conference.
Organisations within the automotive industry have responded to the Budget 2014 statement.
The impending legislation regarding consumer credit agreements and GAP products should be welcomed in the motor retail sector as an opportunity to demonstrate a ‘customer first’ approach to business.
The Financial Conduct Authority (FCA) is proposing a number of changes to the way GAP insurance is sold which it hopes will shake up the industry.
Dealers saw a 25% increase in consumer finance in January 2013 to 89,426 units, according to the latest figures released by the Finance and Leasing Association (FLA).
Figures from the Finance & Leasing Association (FLA) show growth of 25% in the number of cars bought by consumers using dealer finance in January 2014, compared with the same month last year.
Dealers are assessing the changes they need to make to their businesses to gain eventual full approval by the Financial Conduct Authority.
Lenders are urging dealers to prepare to make essential changes from April 1 when the Financial Conduct Authority becomes responsible for UK consumer finance standards.
Ssangyong is developing its first Personal Contract Purchase scheme as it looks to double sales in the UK this year.
