Household expenditure on vehicle ownership defied the negative narrative surrounding PCP car finance products with an increase of 47.7% in spending on “hire loan purchase agreements” during 2017.
Finance mis-selling will create ‘perfect storm’ in 2018 according to the boss of fleet management business who has claimed that car dealership sales staff “don’t know how PCP and PCH deals work”.
Inflation rose to a six-year high of 3.1% in November as retailers struggled against a squeeze on shoppers finances in the run-up to Christmas.
Bristol Street Motors claims to be leading online innovation in the motor retail sector with what it has billed as “the UK’s first purely web-based used car sales platform”.
Stoneacre Financial Services (SFS) is preparing to buck the interest rate trend to make car finance more attainable for non-prime customers.
Automotive finance companies may be hit harder than car dealers by rising inflation & interest rates and falling consumer confidence
Mitsubishi will make its new Eclipse Cross available to PCP customers from £199 per month at it starts 2018 with a brace of SUV launches.
For many months we have seen a frenzy of negative media attention on the automotive sector including comment on franchised dealerships, PCPs and diesel emissions.
Sustained success in automotive retail will demand a more conservative reappraisal of residual values, according to MotoNovo.
Threats to car finance firms and demand for new and used cars have been highlighted once again after the Governor of the bank of England warned that inflation might peak at over 3% next month.
Renault is offering three-year 0% APR Selections PCP finance packages with low monthly payments across selected models for Q4.
New research from Carwow has revealed that millennials are renting or financing cars due to surging living costs and a desire to drive new vehicles.
Consumers change their cars more often than they do their smartphones as their mindset shifts towards “usership rather than ownership”, according to HPI.
The automotive finance industry must focus on generating positive messages as it endures a flurry of negative publicity and the growing attention of regulators, according to a panel of industry experts.
Peugeot's new car registrations fell 13.2% in the first half of 2017 and it is has published its finance deals only up until the end of August.
Car buyers using PCP car finance deals are safe, say motor retailers, but questions remain over clarity and transparency.
People management and PCP car finance figure large in the August issue of AM - Automotive management.
The Bank of England has told car loan providers they are at the risk of action against reckless lending due to the ‘spiral of complacency’ from lenders.
Dealerships could benefit from a new online app which allows motorists looking to change a car early to check the status of their current finance agreement.
Car retailers have come under fire for their approach to finance sales after undercover newspaper reporters found sales executives were offering new car PCPs to and minimum wage earners and the unemployed.
