The automotive retail sector’s supply issues and buoyant used car residual values have been described as a “happy accident” preventing the motor finance sector from “blowing up”.
More than a quarter of PCP buyers are concerned about meeting future monthly payments on their next vehicle due to the impact of COVID-19, according to What Car?.
Nissan has followed a string of car manufacturers in offering a three-month PCP finance payment holiday offer on models across its range of vehicles.
Traditionally the used car market in April is buoyant and there are plenty of retail buyers on the forecourt but that has not been the case in 2019.
The long-awaited FCA update on the motor finance industry has sharpened the sector's focus on Difference in Charge (DiC) arrangements that can lead to higher interest rates for consumers.
New car prices have increased by up to 49% since Britain voted to leave the EU, according to data published by Parkers.
Just 53% of motorists understood the terms and conditions of their last car finance deal, according to research commissioned by Europcar Mobility Group UK.
Motorists' increasing use of underhand tactics to ensure the residual value of their vehicles has led to a record number of clocked cars on UK roads, according to data published by the Local Government Association (LGA).
