The move by the Treasury to sound out how best to deal with mass compensation claims has been welcomed as a positive step although immediate certainty is critical for car loan providers, according to motor retail tech business iVendi.
Lenders are ramping up their technology solutions to provide timely, transparent commission disclosures to customers following the recent Court of Appeal ruling on motor finance, iVendi reports.
Rochdale-based lender Marsh Finance is to integrate iVendi’s point-of-sale (POS) system allowing it to share its finance options with dealers across the iVendi network.
Tandem Motor Finance has signed a new deal with iVendi that will enable the company to offer its products to “thousands” of additional car dealers.
Consumer pre-approval for motor finance is becoming increasingly important as the industry shifts toward risk-based pricing, according to fintech iVendi.
Dealers can now monitor online consumer interactions with vehicles in real time, thanks to a new tool introduced by iVendi.
Dealers can only achieve good Consumer Duty outcomes with the technology tools needed to apply risk-based pricing models, according to iVendi.
Research among younger buyers indicates that the used car market is increasingly shifting online, despite the recent collapse of Cazoo, according to iVendi.
Almost one in 20 motor finance customers have been identified as vulnerable, according to new research by iVendi.
Efforts to fulfil new Consumer Duty requirements are paying off with new research suggesting car buyers are more than satisfied when buying finance online.
Less than half of consumers who wanted to carry out a valuation on their part ex as part of an online buying journey were able to do so, according to new data.
Car buyers are more likely to buy their next vehicle almost entirely online, new research from iVendi suggests.
Dealers should prepare for a potentially higher level of scrutiny from regulators following news that complaints about motor finance agreements have doubled.
Retail software house Automotive Transformation Group (ATG) is working with iVendi to enable dealers to offer an advanced consumer journey
Jana Jones has been named senior vice president (SVP) of sales, marketing and communications at iVendi.
Car manufacturers and their captive lenders need to find ways to support the new electric vehicle (EV) sector to overcome buyer objections, according to iVendi.
Darren Sinclair, iVendi chief customer officer, shares his views on some of the crucial factors that will determine Chinese OEM success in the UK.
As the UK's new car market climbs towards its more natural level, and the flow of used cars onto forecourts increases, motor retailers should be prepared to see more innovation from finance firms and even new entrants, writes Darren Sinclair, chief commercial officer at iVendi.
Dealers are increasingly looking to valuable add-ons to help boost profits
Almost three out of four dealers (73%) believe measures to meet the FCA’s Consumer Duty responsibilities will create new opportunities, according to iVendi.
