Motor Trader

FEBRUARY 18, 2025

Half of buyers are hesitant with regards to using dealer provided car finance following last years Court of Appeal ruling on undisclosed commission payments, says Motors. Fifty-three per cent of the buyers p were aware of the issue surrounding car finance sales. This number rose to 59% for men and 63% of over 55s.

Finance 69

Finance Buyer Demographic Sales 69

Motor Trader

NOVEMBER 11, 2024

Close Brothers Motor Finance has begun a phased return to the writing of new UK motor finance business. Following the temporary pause in underwriting new vehicle finance agreements, which was announced on 25 October 2024, CBMF resumed writing new business with selected partners on Saturday 2 November 2024.

Finance 95

Finance Retail Development Customer 95

Dealer World

FEBRUARY 25, 2025

Here are the central themes and proposed actions outlined in the report: AI in Financial Services: AIs increasing adoption in areas like underwriting, fraud detection, and customer service is modernizing auto finance operations. AI fintech providers are also streamlining operations by automating manual processes.

Finance 75

Finance Retail Technology Development 75

Motor Trader

FEBRUARY 26, 2025

Arranging motor finance is the biggest bugbear for customers when it comes to buying a car. Dealers can take the pain out of the process by ensuring their online experience includes finance calculators and part exchange valuation tools.

Finance 66

Finance Buyer Women Customer 66

Auto Alert

FEBRUARY 26, 2025

5 Outdated Sales Tactics That Are Costing You Customers Car shoppers have changedhas your sales approach? Although this may seem common sense, sales professionals and dealerships get stuck in a rut and rely on outdated sales tactics that can harm their customer relationships and overall sales performance. Be upfront with your pricing.

Customer 59

Customer Sales Finance Deal 59

Motor Trader

FEBRUARY 20, 2025

Dealers who offer service plans, cosmetic repair insurance and extended warranties are achieving higher levels of customer satisfaction, according to findings from JudgeService surveys which reached over 436,100 customers. Other popular upsells were finance with a 13% increase to 82% and paint protection, up 13% to 82%.

Extended Warranty 59

Extended Warranty Customer Repairing Insurance 59

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

Finance 122

Finance Banking Customer Marketing 122

Carscoops

SEPTEMBER 16, 2024

The VW Group is transitioning away from its own private financing branch for customers. Now, it’ll partner with Wells Fargo to provide that service to its customers at its dealerships. The shift in financing strategy comes amid a slump in VW’s financial performance. financing landscape.

Finance 126

Finance Dealerships Customer Marketing 126

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.

Finance 130

Finance Automotive Banking Deal 130

Motor Trader

SEPTEMBER 24, 2024

The Financial Conduct Authority (FCA) is giving finance houses and dealers more time to deal with complaints on motor finance commission. In January this year it announced a review into whether motor finance customers have been overcharged because of the past use of DCAs.

Finance 101

Finance Deal Consulting Customer 101

Motor Trader

JULY 9, 2024

International financial services group Admiral is recruiting a network of UK dealers to boost its car finance business in the UK. Our vision is to build the best Car Finance business in the UK. million customers and motor insurance listing of 4.94 million customers. in the showroom.

Networking 111

Networking Finance Insurance Dealerships 111

Shawn Ryder

DECEMBER 24, 2024

In todays competitive automotive market, enhancing customer engagement on your dealership’s website is essential. A well-optimized website can turn visitors into leads and, ultimately, loyal customers. Live Chat: Offer live chat functionality so customers can connect with sales staff in real-time.

Customer 52

Customer Finance Dealerships Automotive 52

Motor Trader

OCTOBER 8, 2024

Close Brothers Motor Finance (CBMF) has appointed John Cassidy as managing director – sales. He reports to Seán Kemple, CEO Motor UK and Retail Finance Ireland at CBMF. He reports to Seán Kemple, CEO Motor UK and Retail Finance Ireland at CBMF.

Finance 105

Finance Sales Retail Development 105

Motor Trader

AUGUST 29, 2024

Complaints on finance issues soared 70% in the three months to June, according to the Financial Ombudsman Service. Motor finance Hire purchase (motor) was the second most complained about product, behind credit cards, with 15,925 complaints, of which around three quarters are in relation to motor finance commission.

Finance 105

Finance Consulting Customer 105

Motor Trader

SEPTEMBER 3, 2024

Paragon Bank has appointed Dave Wilson as Managing Director of its Motor Finance division, following Julian Rance’s retirement. Wilson joined Paragon’s Motor Finance division in 2017. His 25 year career in financial services includes work with Close Brothers, Bank of Scotland and MotoNovo Finance.

Banking 105

Banking Finance Development Management 105

Autocar

MARCH 18, 2024

The Financial Conduct Authority is looking into so-called DCAs Lenders braced to pay millions in compensation on car finance deals, with Lloyds having set aside £450m Millions of pounds of compensation payments are being readied by lenders after an investigation was launched into the mis-selling of car finance over more than a decade.

Finance 111

Finance Deal Customer 111

Motor Trader

JANUARY 11, 2024

The Financial Conduct Authority (FCA) is to investigate historical cases of motor finance companies not paying out compensation to customers for discretionary commission arrangements. The FCA asked finance houses to.

Finance 110

Finance Customer 110

Carscoops

DECEMBER 31, 2024

When the customer decided against buying the car, she said Strawberry refused to refund her money. Allegedly, he skimmed deposits from customers while working at Fred Haas Nissan. As the finance manager, he reportedly took cash down payments and funneled them into three credit cards not registered in his name. The good news?

Management 122

Management Down Payment Insurance Finance 122

Carscoops

JANUARY 5, 2025

Drivers’ Data to Insurers The allegations claim violations of the FTC Act and Maryland’s Consumer Protection Act, accusing Lindsay of consistently misleading customers about pricing. If the lawsuit succeeds, the dealership group could be on the hook to reimburse customers for these shady practices.

Buyer 116

Buyer Rebate Networking Insurance 116

Motor Trader

JUNE 17, 2024

Finance provider Shawbrook Group is to buy high end motor finance specialist JBR Auto Holdings , for an undisclosed sum. The acquisition broadens Shawbrook’s offering within the regulated motor finance sector.

Finance 104

Finance Technology Customer Marketing 104

Motor Trader

JULY 31, 2024

Marriott Motor Group, Howards Motor Group, VR EPS Warrington, Phantom Motor Company, Eastern Western Group and Hippo Motor Group are among dealer groups who have signed up to Alphera’s motor finance code. This story continues at Dealers sign up to Alphera motor finance code Or just read more coverage at Motor Trader

Finance 101

Finance Customer Automotive 101

Motor Trader

JUNE 17, 2024

Over three-quarters of car buyers (76%) will consider dealer finance even though only half are comfortable with the process, according to MOTORS The research polled the views of over 2,000 in-market car buyers. This story continues at Only half of car buyers comfortable with dealer finance process Or just read more coverage at Motor Trader

Finance 105

Finance Buyer Women Marketing 105

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.”

Finance 103

Finance Insurance Banking Deal 103

Motor Trader

JULY 30, 2024

The Financial Conduct Authority is extending the current pause to the time firms must respond to consumers about motor finance complaints involving a discretionary commission arrangement (DCA). The FCA announced a review of motor finance in January and into whether motor finance customers have been overcharged because of the past use of DCAs.

Finance 105

Finance Spread Consulting Deal 105

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.

Finance 98

Finance Banking Retail Deal 98

Carscoops

OCTOBER 20, 2024

An employee from a family-run dealership in Florida was convicted of carjacking a customer. On December 19, 2023, he carjacked a customer and is now facing up to 15 years in prison after his conviction by a Miami jury, according to the U.S. The incident happened despite the car owner being current on his payment plan.

Customer 122

Customer Finance Banking Dealerships 122

Motor Trader

MAY 31, 2024

Aston Martin has selected Lloyds Banking Group as its retail finance provider for UK vehicle sales. The new partnership will operate as Aston Martin Financial Services, the registered trading name of Lloyds Banking Group’s motor finance business, Black Horse. The partnership will support Aston Martin’s growth.

Banking 98

Banking Finance Retail Customer 98

Carscoops

JULY 18, 2024

Indiana business running four used-car dealerships agreed to fork over almost half a million bucks to former customers. According to the State Attorney General, the dealer used deceptive practices to charge customers thousands more. The dealer’s parent company, Sycamore Co. LLC, must make four more payments of $85,039.40

Customer 119

Customer Sales Finance Dealerships 119

CarExpert

JUNE 4, 2024

Kia is offering special financing deals on the most expensive models in its electric EV6 range for the end of the financial year. From now until June 30, 2024, certain customers can access a 3.99 Eligible customers can take advantage of the discount when buying eligible new or demonstrator EV6 GT and GT-Line AWD models.

Deal 113

Deal Finance Term Customer 113

Motor Trader

APRIL 29, 2024

Dealer loyalty is still a strong factor for customers when buying new and used cars. Brand loyalty is still a strong factor in car purchasing, according to research from Close Brothers Motor Finance. This story continues at A quarter of customers return to dealers for repeat business Or just read more coverage at Motor Trader

Customer 116

Customer Finance Manufacturing Sales 116

Autocar

OCTOBER 21, 2024

million by the UK’s Financial Conduct Authority (FCA) for failures over its treatment of customers in financial difficulty. VWFS, which manages vehicle finance agreements (such as hire purchase and PCP deals) across the whole Volkswagen Group, has also agreed to pay more than £21.5m Firm will also pay out more than £21.5m

Customer 111

Customer Finance Deal Management 111

AutoSuccessOnline

DECEMBER 23, 2024

Bob and Brian discuss APC s post-sale service contract program, which aims to offer service contracts to customers who either declined them during the finance process or are using the dealership’s service department without one. These communications, far from intrusive, are tailored to customer needs.

Sales 98

Sales Repairing Finance Dealerships 98

Carscoops

JULY 29, 2024

The government has sued National General for allegedly forcing customers to get collateral protection insurance. Customers would repeatedly prove they had insurance, but National General would fail to cancel their unnecessary policy. In one case mentioned by the government, a victim financed a Ford Ranger through Wells Fargo.

Insurance 111

Insurance Customer Finance Deal 111

Auto Express

OCTOBER 28, 2024

Customer new car finance agreements - and handovers - on hold as industry reels from shock judgement

Finance 94

Finance Customer 94

Auto Alert

MARCH 13, 2025

Heres what first-time buyers wish dealers understood: The Buying Process Feels Overwhelming The sheer number of choicesmakes, models, financing options, warranties, and insurancecan be daunting for first-time buyers. The better your staff communicates, the more comfortable your customers will be.

Buyer 59

Buyer Finance Dealerships Term 59

DealerTrack Insights

MARCH 20, 2024

A better-integrated solution reduces manual data entry time by pre-filling forms for your customer. Integrated deal processes mean car buyers spend less time at your dealership and reduce the need to re-key customer information multiple times. Data Continuity and Your DMS Your DMS is a data powerhouse.

Customer 104

Customer Finance Technology Dealerships 104

Drive.com

DECEMBER 1, 2024

With flexible payment options and Guaranteed Future Value, Hyundai Finance avoids nasty surprises down the road. Sponsored by Hyundai Finance Rather than treating finance as an afterthought when signing the paperwork on your new car, Hyundai Finance helps you drive away from the dealership with much more than a great deal.

Finance 75

Finance Networking Term Customer 75