PCP offers are luring car buyers to upgrade their cars more frequently, potentially creating an embarrassing cash shortfall, according to What Car?.
More may need to be done to educate the rapidly rising number of PCP customers about the condition in which their lease car should be returned, says Glass's.
There can be no disputing the fact that personal contract purchase (PCP) deals have forced a shift in the UK motor industry.
Close Brothers Motor Finance is looking to grow its business this year with the help of used car PCPs in the independent dealer market.
PCP finance could be the next mis-selling scandal if salespeople haven’t been clear at the sale, warns The National Association of Commercial Finance Brokers.
Fears about the effects of a flood of used cars in a market propped-up by PCPs could mean that we are currently living in “the good old days”, a financial analyst has suggested.
The used car market is starting to reach the long-predicted tipping point into oversupply - with values coming under pressure as a result, reports Glass's.
The point-of-sale consumer new car finance market grew 20% by value and 14% by volume in January, according to the Finance and Leasing Association.
Manufacturers are being forced to introduce deposit contributions on nearly new cars to create differentiation with the monthly rates available on subsidised brand new vehicles.
Ford believes the 2016 new car market could be bigger than 2015 – despite it being one of the strongest on record.
Jeep is expanding on the Black Friday shopping craze by giving customers until December 19 to take advantage of its promotional PCP offering.
Renault is offering deferred payments until February 2016 to customers that pay on finance before December 31 to encourage sales in Q4.
Miscalculated mileage on finance products and non-maintained contracts could provide claims companies with their next target once the PPI window closes.
Ford is offering young drivers between 18-24 up to £2,240 towards insurance to help reduce the cost of motoring.
The new managing director of FCA Automotive Services is confident the continued growth in the UK’s economy and employment stability will mitigate any concerns with used car oversupply and a drop in RVs.
Customers who have bought a car on PCP may find that dealers become stricter about end-of-life recharges as used vehicle values come under increasing pressure.
Lower volumes of corporate fleet vehicles in the UK over the last quarter has resulted in full auction halls supported by active online buyer attendance.
Car manufacturer data can help franchised dealers spot the right time to target finance renewals.
The more pre-regs that enter the market, the stronger price distortions become.
Car dealers are being warned to be sensitive to customer needs when selling PCP products in September, as complaints to the financial ombudsman have increased.
