Car finance products are amongst the most confusing automotive terms for car buyers and it could be hampering sales, according to new research.
Vauxhall has introduced a new two-year 0% PCP offer available across its entire passenger car range, including electrified models.
Digitalisation and flexible monthly payments or usership plans could pave the way for further innovation in the field of vehicle finance
Half of consumers (52%) who bought a car using PCP are expected to refinance them, rather than trade in for a new car at the end of the contract, according to research by NTT Data UK&I.
Citroen has announced a PCP deal for its Ami electric quadricycle, starting from £19,99 per month.
A leasing business has analysed pricing data and found that driving a battery electric car on a lease is cheaper than funding the EV on PCP (personal contract purchase).
As car retail sector experts predict that subscriptions could take over from PCPs as the most popular way to fund a private vehicle, AM compared Q4's offers to see how they compare.
Paying up front for a new vehicle has continued to slow down as an increasing number of consumers demand increased flexibility, according to research from Close Brothers Motor Finance.
Government’s ‘travel by car’ advice fuels hope for market revival
The Financial Conduct Authority (FCA) has said that it expects motor finance providers to offer “exceptional and immediate support to customers facing payment difficulties” due to COVID-19 coronavirus.
The Finance and Leasing Association’s (FLA) head of motor finance has said that every effort should be made to keep motorists “in their cars” as coronavirus inhibits some consumers’ ability to make repayments.
How close is the industry to a fully-functioning online buying process? These keys may help speed it along.
Buyacar has advised car buyers to steer clear of costly options funded by a PCP finance plan – branding the resulting uplift in monthly payments a “rip-off”.
Driver1 has signed a two-year partnership with Cox Automotive, to provide cheap cars on subscription to young drivers.
Vauxhall is offering car buyers a minimum £4,000 guaranteed scrappage allowance or £3,000 extra part-exchange value as part of its new scrappage-style Trade-Up sales campaign.
The rise of personal leasing has been blamed for a rise in the volume of sub-standard repair work seen on used cars by remarketing operations, according to the Vehicle Remarketing Association (VRA).
Startline Motor Finance is celebrating after generating a 20% increase in business volumes during Q1 of 2019 – with PCP penetration in the used sector cited as a key driver.
The Financial Conduct Authorities (FCA) Motor Finance Review has finally arrived. The eagerly awaited and long overdue investigation into auto finance has revealed what many in the industry had predicted.
Northridge Finance has achieved a year of record growth, lending £1.1bn and increasing its funded fleet to 8,000 vehicles with Marshall Leasing.
The effect of changes announced by HMRC this week relating to how VAT applies to PCPs will be “limited” as long as sensible residual values are being set by finance companies, says Startline Motor Finance.
