Motor Trader

JANUARY 21, 2025

Chancellor Rachel Reeves has intervened in the motor finance commission case in a bid to protect banks and finance houses from paying out hundreds of millions of pounds in compensation to consumers. The judgment related to fixed commission motor finance agreements as well as DCAs, which the FCA banned in 2021.

Banking 106

Banking Finance Retail Consulting 106

Carscoops

NOVEMBER 25, 2024

At the same time, Stellantis announced a new financing deal that could tempt power-hungry enthusiasts to get behind the wheel of the new electric muscle car rather than waiting for next summer (or fall) when the ICE-powered version with a turbocharged straight-six engine is expected to reach dealers.

Finance 122

Finance Deal Lessee Buyer 122

Motor Trader

FEBRUARY 18, 2025

1407908075 The National Franchised Dealers Association (NFDA) has been given permission to intervene in the motor finance case taking place in the Supreme Court. The Finance and Leasing Association and pro-claimant lobbying group Consumer Voice have also been refused permission according to the Law Gazette.

Finance 97

Finance Banking Development 97

Motor Trader

APRIL 2, 2025

1407908075 The National Franchised Dealers Association (NFDA) today presented evidence to the Supreme Court, in the appeal against the decision on motor finance commission in Johnson v FirstRand Bank Limited, Wrench v FirstRand Bank Limited and Hopcraft v Close Brothers.

Finance 86

Finance Banking Deal Automotive 86

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

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

Car Examer

JANUARY 20, 2025

Your credit score plays a huge role in determining whether youll be approved for car finance and the terms youll be offered. Read on to learn more about credit scores, why its important for car finance applications, and how to give it a boost if your score is less than perfect. Why does credit score matter for car finance?

Finance 59

Finance Finance Rate Deal Term 59

Motor Authority

JUNE 10, 2024

VW Group acknowledges EV sales haven't taken off as expected The conglomerate believes EVs are still the future Current realities have made VW Group refocus and reallocate a third of its R&D budget back to vehicles with gas engines The Volkswagen Group has been one of the most bullish automakers on electric vehicles, having committed only a.

Finance 288

Finance Sales 288

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.

Finance 59

Finance Customer Deal Banking 59

Autocar

NOVEMBER 13, 2024

Court of Appeal's ruling effectively bans dealers profiting from finance deals unless the buyer gives their consent Buyers who took out car finance deals that included non-discretionary dealer commission are set to have longer to complain after a court ruling deemed the practice unlawful.

Finance 64

Finance Buyer Banking Insurance 64

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.

Finance 75

Finance Retail Technology Development 75

AutoSuccessOnline

JANUARY 22, 2025

Upstart announced the largest and most significant set of product enhancements to the in-store and financing solutions on its Auto Retail platform. The enhancements empower dealerships to more easily configure and efficiently manage the sales process, desk deals, streamline financing workflows and close sales more quickly. The result?

Finance 52

Finance Down Payment Retail APR 52

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

Motor Trader

JANUARY 16, 2025

Dealers can expect a challenging year for motor finance in 2025, according to the latest forecast from the Finance & Leasing Association (FLA). Last year motor finance business reached 38.9bn, a similar amount to 2023 but this year could be different with 60% of finance houses not expecting an increase in sales for the year.

Finance 59

Finance Marketing Sales 59

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.

Finance 52

Finance Banking Customer 52

Car Examer

FEBRUARY 15, 2025

The Financial Conduct Authority (FCA) car Finance commission have to be made it crystal clear that firms must be upfront with customers about commission paymentsand a recent Court of Appeal judgment has reinforced this. If youre a motor finance firm, nows the time to take commission disclosure seriously. Book inspection Whats Changing?

Finance 59

Finance Deal Customer Buyer 59

Car Examer

DECEMBER 3, 2024

Car finance has made it easier than ever to own a car, with options like PCP (Personal Contract Purchase) and hire purchase helping people spread the cost over time. But beneath the promise of “affordable monthly payments,” there’s a growing issue that’s catching more attention: car finance mis-selling. So, what’s the real story?

Finance 59

Finance Balloon Payment Early Termination Fees Termination Fee 59

Motor Trader

APRIL 3, 2025

The motor finance commission case is winding up today with the final submissions. The post Legal firm MILS guides dealers through Supreme Court motor finance case appeared first on Motor Trader. Legal expert MILS, which provides the Legal Surgery for Motor Trader, is attending each day to give dealers a clear summary of what happened.

Finance 52

Finance Banking 52

Motor Trader

FEBRUARY 13, 2025

Barclays has set aside 90m for historic motor finance commission redress. Barclays said it ceased operating in the motor finance market in late 2019, although historical operations before this time may be in scope of any potential FCA consumer redress scheme. The figure was detailed in its financial results for 2024 published today.

Finance 59

Finance Marketing 59

AutoSuccessOnline

JANUARY 22, 2025

announced its auto financing product has reached a major milestone: partnering with more than 1,000 franchise and independent dealerships nationwide. Responsible Lending: The program prioritizes financing vehicles essential to everyday life, offering conservative loan-to-value ratios, competitive rates and robust risk management.

Finance 52

Finance Technology Customer Management 52

Carscoops

FEBRUARY 26, 2025

A Florida man crashed into a BMW dealership showroom in Gainesville on Tuesday. He was reportedly upset after failing a credit check when attempting to buy an M4 CS. The crash resulted in approximately $60,000 in damage as well as criminal charges.

Finance 105

Finance Dealerships 105

AutoSuccessOnline

MARCH 14, 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. Treasury Views AI in Auto Finance appeared first on AutoSuccessOnline. Retrieved from Treasury.gov.

Finance 40

Finance Technology Development Management 40

AutoSuccessOnline

JANUARY 29, 2025

The integration, which is set to launch in Q2 2025, will enable dealerships to convert more repairorders by utilizing the Reynolds Retail Management System and Sunbit’s financing technology to leverage real-time data and prescreen customers at different stages of the service journey. billion-plusin revenue while helping more than 1.8

Finance 52

Finance Repairing Retail Technology 52

Motor Trader

NOVEMBER 6, 2024

Its dashboards provide updates on critical information about all aspects of an automotive business including CRM, sales, service, parts and finance. Sharman said: “The AutoBI team are excited to become part of Bumper and support its growth in the UK and Europe as the leading finance platform for car retailers.

Retail 115

Retail Finance Automotive Sales 115

Motor Trader

FEBRUARY 12, 2025

However, despite the intense regulatory focus on how dealers conduct finance sales, the explanation of available finance packages was rated by buyers as the least important consideration of the eight. Other key deciders included the mechanical standard of vehicles and cleanliness of vehicles. day improvement on stock turn.

Customer 108

Customer Sales Finance Management 108

Carscoops

JANUARY 11, 2025

With the cost of financing skyrocketing, analysts are advising potential buyers to consider alternatives, such as used cars or new EV leases, to keep their budgets in check. in Q4 2023, a small consolation for those financing record-high amounts. New Car Finance Data (Averages) Metric 2024 Q4 2023 Q4 2024 Q3 Loan Term 68.8

Down Payment 105

Down Payment Buyer APR Finance 105

Motor Authority

SEPTEMBER 10, 2024

Hoonigan's finances have hit the skids but the company is determined to stay in operation. The automotive entertainment and aftermarket parts business famous for its Gymkhana videos starring Ken Block announced on Monday that it has filed for chapter 11 bankruptcy protection with a court in Delaware. Hoonigan said it has entered into a.

Finance 273

Finance Automotive 273

Motor Trader

MARCH 20, 2025

Sales, aftersales, finance, and marketing teams often work in isolation, leading to inefficiencies and missed opportunities. The automotive industry has traditionally been slow to adopt new technology, often citing concerns that digital solutions might erode the personal relationships that define car sales.

Retail 98

Retail Finance Banking Technology 98

Carscoops

DECEMBER 31, 2024

As the finance manager, he reportedly took cash down payments and funneled them into three credit cards not registered in his name. They never gave me proof of purchase and it wasn’t fully finalized the finance company didn’t even know I had the car! They lied about our quote on our insurance as well!

Management 122

Management Down Payment Insurance Finance 122

Carscoops

NOVEMBER 25, 2024

Hot on the heels of the 2024 Wagoneer S making its debut at the Los Angeles Auto Show last week, Jeep has announced some attractive financing and leasing offers for their new electric SUV. It also means the Wagoneer S is cheaper to finance than a regular 2024 Wagoneer at a 3.9%

APR 105

APR Lessee Spread Finance 105

AutoSuccessOnline

NOVEMBER 26, 2024

Personalization and Customization: Texts can be tailored to a customer’s specific interests using data-driven insights, such as updates on a specific vehicle model or financing options. This approach helps build trust, as customers feel less obligated to respond immediately and more in control of the interaction.

Customer 95

Customer Finance Dealerships Sales 95

Motor Trader

FEBRUARY 17, 2025

The deal was advised on by Castle Square Corporate Finance and Freeths, with funding from Barclays. Josh Stokes from the Castle Square Corporate Finance team provided advice on transaction value, structuring, manufacturer approval and the fundraising process, supported by Director Kevan Shaw.

Finance 94

Finance Repairing Manufacturing Deal 94

Motor Trader

DECEMBER 11, 2024

With many motor dealers already experiencing the challenge of increased overheads and squeezed margins, the extent of the changes to Employers NIC and living wage will provide additional unexpected cost pressures for auto retailers, said Michelle Malone, a finance expert at Xeinadin This story continues at UK motor sector vacancy rate falls to three-year (..)

Retail 105

Retail Finance Automotive 105

Carscoops

JANUARY 5, 2025

Once in the building, the dealer network would then reportedly add on junk fees, tell the customer that they had to finance the car in-house, or that they didn’t qualify for the advertised price. It claims that the dealer would have a deceptive price online and would tell customers who called in that the price was correct.

Buyer 116

Buyer Rebate Networking Insurance 116

Motor Trader

NOVEMBER 12, 2024

Paul Burgess, CEO at Startline Motor Finance, said: “The research suggests overwhelmingly that dealers are seeing a link between electric cars and fuel pump pricing. The research shows that 52% say the correlation between petrol prices and consumer interest in EVs is “significant” while 47% believe there is “some” impact.

Finance 104

Finance Technology Marketing Sales 104

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. In this Executive Spotlight interview, Bob Seal of APC speaks with AutoSuccess Brian Ankney.

Sales 98

Sales Repairing Finance Dealerships 98

Motor Authority

FEBRUARY 9, 2025

Due to slowing EV growth, Porsche is now focusing on developing additional gas and plug-in hybrid models Costs associated with the development have led Porsche to cut its profit forecast for 2025 Porsche may terminate the contracts early for the bosses of its finance and sales divisions Porsche has warned that its 2025 profits will take a major.

Finance 203

Finance Development Sales 203