Has the boom in PCPs hit extended warranty sales?
Franchised car dealers may think soaring registrations are bad for warranty sales. Not so, say suppliers.
View ArticleDo car customers need more clarity on insurance?
Insurers are concerned about the FCA’s definition of ‘value for money’ in add-on products.
View ArticleHow to build on the boom in showroom finance
Despite a bigger compliance burden, finance levels have grown strongly, but what can dealers do to make sure volumes, values and penetration continue to rise?
View ArticlePut finance offers front and centre online
Most of your customers visit your website and go on to buy cars using finance – make their journey as easy as possible.
View ArticleAre PCPs close to the edge?
The new car sales boom depends on cheap, available finance, but storm clouds are visible on the horizon.
View ArticleHow car dealers can avoid the finance hazards
Prepared car dealers can minimise risks to the finance market – whether from competitors, regulation or market pressures.
View ArticleMotor finance Q&A: Adrian Dally, FLA
AM asks industry experts to assess the risks facing motor finance in the UK. This week: Adrian Dally, head of motor finance, Finance and Leasing Association.
View ArticleMotor finance Q&A: Louise Wallis, NFDA
There may be some softening of demand over the year, but PCPs make getting a new car very affordable in comparison to HP or outright purchase. That way of funding their vehicle is very much part of the...
View ArticleMotor finance Q&A: How car dealers can spot finance fraudsters
Car dealers are being targeted by criminals making fraudulent car finance applications. Sgt Kate Jackson of the NVCIS explains how to spot them.
View ArticleSeven ways car dealers can boost online finance
The internet is one of the dealer’s most powerful tools. Use it to show consumers how effective – and FCA-compliant – your specialist motor finance can be
View ArticleF&I: PCP 'crisis' is overblown, but dealers still have work to do on compliance
Motor retailers need to be more conscientious than ever to avoid the consequences of mis-selling, delegates at Automotive Management Live were told.
View ArticleEmerging trends in motor finance
The future of motor finance - from MaaS to all-in-one payment models, to online finance – AM asks the experts what dealers can expect
View ArticleIs PCH the new PCP in UK motor retail?
PCP still accounts for more than 80% of the market, but personal contract hire is growing faster than any other form of finance in new car retail
View ArticlePCH vs PCP - How do the main finance types compare?
PCP accounts for more than 80% of the new car finance sold in the UK, but PCH is growing fast, mostly at the expense of hire purchase and personal loans
View ArticleDoes FCA motor finance review spell the end for DiC schemes?
The FCA’s inquiry raised serious concerns about car dealers and brokers manipulating finance rates to increase commissions
View ArticleFunding your motor retail business in a market decline
Cost controls and transparent performance updates are essential to retain lenders’ confidence in a struggling economy
View ArticleThe case for full commission disclosure
FCA clarity on commission fees is good news, say most industry observers
View ArticleHow the FCA motor finance review affects automotive retailers
The Financial Conduct Authority’s findings on commissions, information disclosure and affordability have big implications for the motor retail industry
View ArticleIs cash king for car dealers?
Dealer groups are increasingly shedding debt and reviewing working capital practices to brace against falling sales and an unpredictable political landscape
View ArticleInsurance add-on suppliers resilient in face of FCA attention
Leading insurance add-on companies aren’t blinking as the FCA takes increased interest
View ArticleWhat’s next in the FCA’s commission crackdown?
A ban on interest-linked commissions will level the playing field, says Financial Conduct Authority
View ArticleDealers have weeks to argue against new FCA disclosure rules
Financial Conduct Authority says proposed rules on commission disclosure are designed to give buyers more clarity
View ArticleHow are motor retailers coping under SMCR?
The FCA replaced its ‘authorised person’ credit compliance system for car dealers with the Senior Managers & Certification Regime (SMCR) on December 9
View ArticleDealers get set for disclosure and accountability in motor finance
The Financial Conduct Authority is keen for motor retailers providing consumer credit to be upfront about earning finance commission
View ArticleKeeping motor finance safe to trade
In early 2021 the Financial Conduct Authority's ban on discretionary commission in motor finance will kick in. AM examines the impact on motor retailers.
View ArticleA consumer credit challenge in 2021
Coronavirus has driven an uplift in motor finance digital applications this year, but 2021 looks set to bring further effects for dealerships regulated by the Financial Conduct Authority (FCA). Here AM...
View Article5 minutes with... Bumper chief commercial officer, Jack Allman
Bumper chief commercial officer Jack Allman speaks to AM editor Tim Rose about the aftersales finance provider's plans for 2021.
View ArticleAre car retail’s new FCA regulations having the desired effect?
Six months on from the introduction of new Financial Conduct Authority (FCA) regulations, automotive retailers should be starting to see an impact on average commission levels as they adapt to a new...
View ArticleHas online car finance really come of age?
Lenders and finance platform providers report increased online vehicle financing activity, albeit mixed with dealership interaction, although the trend is far more pronounced in used than new.
View ArticleHave dealers and funding providers cleared COVID-hit car buyers' finance...
Motor finance companies and car dealers have borne the brunt of the COVID-19 pandemic, but how well have they overcome the challenge of motorists' 1.8 million requests for finance forbearance.
View ArticleSupply shortages reduce car brands' desire to offer new car discounts
Discounts on new car retail offers have dropped slightly by 1.9% quarter-on-quarter to £1,672 on average in Q4, according to the latest AM data.
View ArticleCar subscription offers: how do they compare to a PCP?
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.
View ArticleFCA's new Consumer Duty makes transparency and consistency vital in car finance
With December’s publication of the Financial Conduct Authority’s (FCA) second consultation on its new all-encompassing Consumer Duty protocols and the automotive retail sector now subject to commission...
View ArticleIndependent car dealers' flexibility paid dividends after finance regulation...
Independent used car dealerships and supermarkets have been best positioned to adapt to the Financial Conduct Authority (FCA) rule banning discretionary commission models that was brought into force...
View ArticleFixed rate finance model makes franchised car retailers 'transparent and fair'
The future of franchised retailers’ motor finance FCA ruling on discretionary commissions has lead to greater transparency, but few dealers are reporting any noticeable variation to income as a result.
View ArticleSupply and demand imbalance restrains car brands' Q1 finance offers
As Q1 draws to a close with what is likely to be a quieter than normal March plate change month, AM took a look at the new car finance offers being served up by some of the sector’s leading brands.
View ArticleIs the end coming for in-showroom motor finance provision?
AM-online examines the impact of technology and e-commerce on the traditional in-showroom process of providing point of sale motor finance
View ArticleKeeping car finance competitive amid BoE's rising interest rates
Car dealerships are facing a double whammy of rising overheads and diminishing consumer finances after the Bank of England (BoE) further increased interest rates this month to 1%.
View ArticleHow is online retail affecting the role of car dealership business managers?
The role of the car dealership’s business manager is evolving – and digitalisation is playing its part in that change.
View ArticleTight deadline for FCA Consumer Duty plan approaches
As the October 31 deadline for implementation plans for FCA Consumer Duty looms, compliance experts share their advice for UK motor retailers.
View ArticleUK recession is shifting the goal posts for consumer car finance
Armed with the right motor finance solutions, dealers are well placed to help buyers into their next used car despite the storm of high vehicle prices, rising interest rates and squeezed budgets.
View ArticleWhen will car subscriptions become mainstream?
Digitalisation and flexible monthly payments or usership plans could pave the way for further innovation in the field of vehicle finance
View ArticleChange ahead for point of sale motor finance
Car finance sales opportunities remain for motor retailers despite tougher economic conditions, new business models and the upcoming FCA Consumer Duty requirements
View Article5 Minutes With... Alex Royall, director, Alphera Financial Services
In this latest '5 Minutes With' interview, I ask Alphera Financial Services director Alex Royall about some of the work UK motor retail is doing ahead of changing FCA regulation, including...
View Article5 mins with…Darren Mornin, NextGear Capital managing director
Darren Mornin, Next Gear Capital managing director, discusses stock funding and how the business is working with retailers to expand their businesses
View ArticleWhy Leasing Options stood out to win Leasing Operation of the Year
Leasing Options has continued to expand, grow profits and introduce new initiatives, and win more PCH custom, so it stood out to the AM Awards judges .in this narrowly contested category.
View ArticleThe FCA could crack down on social media “wild west” with finance risk...
The Financial Conduct Authority wants to reduce the risks of finance promotions on social media. AM examines what it means for motor retailers' marketing.
View ArticleHelp for dealers on making every F&I revenue stream count
While watched by the Financial Conduct Authority, finance and insurance still delivers welcome profit for car dealers. Debbie Kirlew reports
View ArticleWhy the Financial Ombudsman Service rulings prompt a FCA probe into...
Two recent car loan misselling cases heard by the Financial Ombudsman Service (FOS) against Black Horse Motor Finance and Barclays Partner Finance have been mentioned by the FCA as particularly...
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