Car Examer

DECEMBER 3, 2024

Let’s break down what happened and how it might affect car finance customers. If you’ve ever financed a car through a dealership, there’s a chance you may have unknowingly paid more than you should have. But that’s about to change, thanks to a recent court ruling that’s shaking up the car finance industry in the UK.

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Motor Trader

DECEMBER 11, 2024

The Supreme Court announced today that it was going to allow an appeal the Court of Appeal;s judgement on motor finance commission cases. The Court of Appeal h ad upheld an appeal against Close Brothers, First Rand Bank and MotoNovo Finance, ruling that motor dealers acting as credit brokers have a duty of loyalty to their customers.

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Motor Trader

OCTOBER 25, 2024

The Court of Appeal has upheld an appeal against Close Brothers, First Rand Bank and MotoNovo Finance ruling that motor dealers acting as credit brokers have a duty of loyalty to their customers. This story continues at Court rules for consumers in motor finance appeal case Or just read more coverage at Motor Trader

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Carscoops

DECEMBER 7, 2024

A new report claims retailers could bank thousands of dollars on every 2024 / 2025 Charger Daytona they sell, and that’s before the inevitable markups enter the conversation. The official invoice price for one of those is $61,746, so if the dealer sells at MSRP, he could bank $3,246. For dealerships, it’s a windfall.

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Best Selling Cars Blog

MAY 13, 2024

Cryptocurrency: Transforming Automotive Finance In the past, automotive financing involved a bank, credit union or any other company that deals with loans for vehicle purchases. Streamlining Payment Systems In addition to financing, cryptocurrency is streamlining payment systems within the automotive industry.

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Best Selling Cars Blog

OCTOBER 1, 2024

Dreaming of that new car smell but worried about financing as a first-time buyer? Let’s break down how you can qualify for vehicle finance and make that dream a reality. What Is Vehicle Finance? Simply put, vehicle finance is a loan specifically for buying a car. Don’t sweat it! Shop around! But hold up.

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Finance Buyer Prepayment Penalties Down Payment 130

Drive.com

MARCH 6, 2025

Affording a petrol, diesel or hybrid car in 2025 just got harder with one bank banning new car loans on these powertrains. As of February 2025, Bank Australia said it will now only offer car loans on electric vehicles (EVs), as it looks to double down on its 2035 carbon net-zero targets.

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Motor Trader

AUGUST 30, 2024

Oracle Car Finance has raised over £50,000 for local Martin House Children’s Hospice, fundraising internally and at The Motorist on 26 August. This story continues at Oracle Car Finance raises £50,000 for hospice Or just read more coverage at Motor Trader Without these kind of events, Martin House would not survive.

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Motor Trader

SEPTEMBER 13, 2024

The consumer car finance new business volumes grew in July 2024 by 1% compared with the same month in 2023. The consumer new car finance market reported new business by value in July 5% higher than in the same month in 2023, while new business volumes fell by 3%. “Recent data from the SMMT shows a 7.2%

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Finance Banking Marketing Sales 104

Auto Express

JANUARY 21, 2025

The Treasury says payouts could cause considerable economic harm to the UK finance sector

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Motor Trader

AUGUST 1, 2024

Motor finance companies need to find new ways of adding value and informing customer choice, says iVendi. Aside from offering the cheapest finance deal, motor finance companies need to find another way to differentiate themselves. The proportion of buyers who don’t go with the cheapest deal tends to be low.”

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Auto Express

APRIL 15, 2024

The FCA is investigating now-banned ‘discretionary commission arrangements’, which could result in huge compensation payouts for motorists

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Banking Finance 115

Carscoops

JANUARY 9, 2025

New financing deals could help buyers save over $12,000 on a higher-spec ID.4. APR / 72-month financing deal on the ID.4 This leasing deal is available throughout the US and valid until March 3. The latest deal comes from VW and it’s for the outgoing 2024 ID.4. All 2024 ID.4 4 models have 0% APR for 72 months.

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Motor Trader

FEBRUARY 5, 2025

Zopa Banks 2025 UK car dealerships survey has revealed dealer business priorities and the industrys key challenges. Tim Waterman, chief commercial officer at Zopa Bank, said: “Zopas 2025 UK car dealership survey captures a need to meet customers where they are online, offline and in between.

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Banking Finance Dealerships Customer 59

Motor Trader

OCTOBER 29, 2024

Legal firm MILS has issued guidance to dealers on motor finance Discretionary Commission Claims, a huge issue for the retail sector in the light of the Court of Appeal ruling. Train Your Team: Ensure that your sales and finance teams understand the importance of disclosure and can clearly explain commission structures to customers.

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CarExpert

AUGUST 14, 2024

Two people have been arrested and charged following a New South Wales Police investigation into an alleged $10 million financing fraud scheme that targeted a Sydney automotive group. The Strike Force’s investigations were centred around an alleged criminal syndicate targeting automotive financing companies.

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Shawn Ryder

JANUARY 21, 2025

When contemplating a transition from a bank job to a finance manager position, many factors must be carefully weighed. Understanding the Role of a Finance Manager Before diving into the details of making the change, it’s crucial to understand what being a finance manager entails. Why Leave a Bank Job?

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Carscoops

MARCH 6, 2025

Credit to School of Hard Knocks #privateequity #privateequitylife #privateequitysalary #finance #ownership #investor #investors ♬ original sound – financialolic On top of that, he’s faced charges of forging contracts, forging banking documents, and impersonating representatives from Aston Martin and a Cleveland car dealer.

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Motor Trader

OCTOBER 21, 2024

He will also oversee key stakeholder and shareholder relationships, including those with investors Carlyle and LDC, as well as banking and debt funding partners. This story continues at Evolution Funding appoints finance chief for M&A and expansion drive Or just read more coverage at Motor Trader

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CarExpert

APRIL 20, 2024

There are two main options when it comes to paying for a new car: you can either pay the full sum upfront, drawing on existing savings, or you can opt for a finance package that involves taking out a loan and making periodic payments over a set term. “There are many different ways that someone can structure a finance loan. .

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3 Brothers Autosale

DECEMBER 20, 2023

Considering the importance of good credit auto financing, let’s look at some valuable insights and tips for used car buyers looking to make a smart investment. Understanding Good Credit Auto Financing Good credit isn’t just a badge of financial honor; it’s your golden ticket to favorable auto financing.

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CarExpert

JUNE 6, 2024

And does it make sense to pay cash or take a finance deal? Even after crossing those bridges and reaching the conclusion you’re ready to organise a loan for a fresh set of wheels, one question still remains – should you finance through the dealer, or look elsewhere? So, how does dealer finance work?

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CarExpert

FEBRUARY 21, 2024

The class action, filed by Echo Law, alleges Toyota Finance Australia – which is separate to Toyota Motor Corporation Australia – facilitated undisclosed arrangements with Toyota and Lexus dealership staff who inflated interest rates on car loans between 2010 and 2018. Some of these loans are continuing today.

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CarExpert

JULY 23, 2024

Except there’s one problem – the bank sort of owns it. Using finance to buy a car is very common in Australia, and it’s just as common to need to sell a car that still has money owing on it. If you can’t pay back the finance on the car for whatever reason, the lender could repossess it from a new owner.

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CarExpert

MARCH 20, 2024

Except there’s one problem – the bank sort of owns it. Using finance to buy a car is very common in Australia, and it’s just as common to need to sell a car that still has money owing on it. If you can’t pay back the finance on the car for whatever reason, the lender could repossess it from a new owner.

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Motor Trader

FEBRUARY 22, 2024

Lloyds Banking Group has set aside £450m for the potential impact of the recently announced Financial Conduct Authority (FCA) review into historical motor finance commission arrangements. This story continues at Lloyds Banking sets aside £450m for FCA commission probe Or just read more coverage at Motor Trader

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Banking Finance 71

Autocar

FEBRUARY 18, 2025

Court of Appeal's ruling effectively bans dealers from profiting from finance deals unless the buyer gives consent The Supreme Courthas blocked chancellor Rachel Reeves from intervening in the landmark car finance case that is thought to have affected millions of buyers. and will monitor it closely". and will monitor it closely".

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Finance Banking Deal Buyer 59

Shawn Ryder

FEBRUARY 7, 2024

This guide aims to provide comprehensive insights into selecting the right vehicle, understanding financing options, and effectively navigating dealership negotiations in 2024. Understanding Financing Options 1. Get Pre-Approved: Before visiting a dealership, secure financing pre-approval from banks or credit unions.

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Drive.com

MARCH 20, 2024

According to a major bank, in the past year one in five car loans were used for electric or hybrid vehicles – with the Tesla Model 3 and Model Y considered the most popular among customers. One of Australia’s largest banks says electric vehicles purchased on finance has increased by 37 per cent in the last six months.

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Motor Trader

OCTOBER 14, 2024

iVendi has partnered with Tandem Motor Finance, part of Tandem Bank, to help offer its products to potentially thousands more car dealers. From long, personal experience, I am very aware of iVendi’s reputation for reimagining the future of dealer finance in an increasingly digital world.

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Carscoops

MAY 22, 2024

In February, Polestar raised $950 million in private funding from 12 international banks. In mid-2022, it went public on the Nasdaq and in the middle of February this year, raised $950 million in private funding from 12 international banks. The future Polestar 5 and Polestar 6 will use the firm’s own bonded aluminum chassis tech.

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Dealer World

DECEMBER 19, 2024

Led by a team of veteran industry experts with backgrounds in investment banking, private equity, accounting, finance and real estate, Kerrigan Advisors does not take listings, rather they develop a customized sales approach for each client to achieve their personal and financial goals.

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Sales Retail Banking Dealerships 88

Shawn Ryder

JANUARY 21, 2025

Buying a new car can be an exciting process, but it often comes with its fair share of frustrations, especially when it comes to financing. One common question that arises among buyers is, “Why didn’t the dealership use my Chase Bank pre-approval?” Some pre-approvals restrict financing to specific vehicle types.

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Shawn Ryder

JANUARY 19, 2025

As dealerships aim to clear their lots of older inventory, they often offer substantial markdowns, trade-in incentives, and financing deals to attract buyers. Financing Offers: Attractive financing terms, like 0% APR or deferred payment options. Are you financing or paying cash?

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Dealer World

JANUARY 28, 2025

NEW YORK January 28, 2025 Adoption of digitized contracting and documentation workflows by auto retailers and their lending partners that foster back-office efficiencies saw a noticeable jump, according to analysis by Wolters Kluwer Compliance Solutions from its Q4 Auto Finance Digital Transformation Index.

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Carscoops

MARCH 1, 2024

This latest round of financing is being provided by 12 international banks, including BNP Paribas, Natixis, Standard Chartered, BBVA, HSBC, and SPDB, through a three-year loan facility. The efforts of recent years are paying off: We improved our cost basis, secured financing and are ramping up our product offensive.”

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Canadian Auto Dealer

JUNE 6, 2024

The National Bank will present a free webinar about fraud in the automotive finance sector on June 13. The webinar, called “ Preventing Fraud in the Auto Finance Industry,” will be offered in English only and will include speakers from the National Bank and TransUnion. “The

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