Consumer car finance new business volumes are stable.
The Bank of England has told banks to set aside an extra £11.4 billion to protect the economy from a financial crash as car finance and credit card debt lending continues to “increases rapidly”.
Car dealers are being targeted by criminals making fraudulent car finance applications. Sgt Kate Jackson of the NVCIS explains how to spot them.
There has been a lot of adverse publicity around Personal Contract Purchase in recent months, much of which is technically incorrect and some of which is blatant journalistic sensationalism.
New business in the point of sale (POS) consumer new car finance market fell 19% by value and 28% by volume in April, compared with the same month in 2016.
Prepared car dealers can minimise risks to the finance market – whether from competitors, regulation or market pressures.
The new car sales boom depends on cheap, available finance, but storm clouds are visible on the horizon.
To dispel doubt about the stability of the motor finance market, finance houses and trade bodies need to be more transparent.
New business in the point of sale (POS) consumer new car finance market grew 13% by value and 5% by volume in March, compared with the same month in 2016.
An investigation into finance in the automotive sector has slammed used car dealers for a “£1.4 billion a year rip-off” after comparing the deals offered by 100 retailers across the UK.
FCA action to tackle perceived “conflicts of interest and irresponsible lending” in motor finance must be proportionate and not harm vehicle sales, according to NFDA director Sue Robinson.
The Bank of England has confirmed that it considering more stringent regulations which would usher in strict affordability checks in a bid to avoid a PCP-prompted financial crisis.
Consumer car finance volumes fell by 2% in February according to new figures released by the Finance and Leasing Association (FLA).
Brokers are set to see a boom in finance business during 2017 according to the results of a survey carried out by Cap HPI.
New business in the point of sale (POS) consumer car finance market grew 12% by value and 8% by volume in 2016.
According to the Finance and Leasing Association (FLA), in the twelve months to August 2016 2.2 million new and used cars were bought on finance by consumers through dealerships.
New business in the point of sale (POS) consumer new car finance market grew 13% by value and 7% by volume in November, compared with the same month in 2015.
The Finance & Leasing Association has won government approval to develop a motor finance specialist apprenticeship standard for the motor finance industry.
The point-of-sale consumer used car finance market grew 12% by value and 9% by volume in October, compared with the same month last year, according to The Finance and Leasing Association.
New business in the point-of-sale consumer new car finance market grew 9% by value and 5% by volume in August, compared with the same month last year.
