Motor finance deposits and payments have stayed “remarkably consistent” over the last 12 months despite ongoing interest rate pressures, says iVendi.
Ivendi has taken the experience of 8,000 retailers, manufacturers and finance partners to create a free step-by-step guide to the new Consumer Duty regulations.
Dealers need to ensure their technology is keeping up with new Financial Conduct Authority (FCA) regulations on commission unveiled recently, iVendi is warning.
James Tew, the chief executive of iVendi, says online retailing is exceptionally complex, and a lot of manufacturers have models he doesn’t think are working
The introduction of GDPR over the last 12 months appears to be behind a slight increase in online motor finance conversion rates, says iVendi.
Dealers are increasingly using digital tools to reduce the amount of “desk time” that is required to take a customer through the details of a deal, according to online motor retail specialist iVendi.
Kieron Grenney-Tabret has been appointed as the first international projects manager at motor industry online retail specialist iVendi.
Five final notices issued by the Financial Conduct Authority to dealers this month could be the “first of many”, warns iVendi.
A third of dealers are leaving their business exposed to online finance brokers by not offering motor finance on their website.
Dealers are regularly collecting the wrong data or are proving to be unsure of how to meet the demands of an FCA investigation.
A new online tool launched this week by iVendi allows dealers and buyers to look at detailed information about motor finance eligibility.
A motor finance tool is being launched by iVendi this week that it claims will be the fastest and easiest to use.
Moves to empower customers will mean that self-service motor finance is set to become a major trend in 2016.
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.
iVendi has updated its recently-unveiled online motor finance decisioning tool to make sure it meets new Financial Conduct Authority (FCA) requirements.
Budget 2015 highlights, 50 days from the general election.
