Machines with Souls

OCTOBER 20, 2024

The post Should you buy, lease, or finance this $117k BMW M4 Coupe? A new BMW M4 Coupe with a sticker price of $117,000 was left behind at a dealer. It's a lot for an M4, but this is about how you purchase it. appeared first on Machines With Souls.

Finance 130

Finance Automotive 130

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.

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Finance Sales Retail Management 103

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.

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Finance Consulting Deal Customer 98

Motor Trader

NOVEMBER 20, 2024

Santander has become the latest finance house to set millions of pounds to pay for motor finance commission payments to consumers. This story continues at Santander sets aside £295m for motor finance commission payments Or just read more coverage at Motor Trader

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Finance Customer 64

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!

Finance 130

Finance Buyer Prepayment Penalties Down Payment 130

Canadian Auto Dealer

NOVEMBER 20, 2024

A major automotive finance scandal has captivated both consumers and the automotive industry well beyond the shores of the United Kingdom, where the situation is playing out. Car buyers who financed a vehicle purchase say they were unaware the dealership’s commission had been added to their bill.

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Finance Automotive Banking Dealerships 52

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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Finance Banking 111

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.

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Banking Finance Development Management 105

AutoSuccessOnline

NOVEMBER 20, 2024

The platform empowers dealerships with real-time, data-driven financing capabilities for customers across the credit spectrum, particularly those who may not qualify for traditional lending options. “At platform offers an all-digital experience that simplifies subprime financing for both dealers and customers.

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Finance Deal Electronics Dealerships 52

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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Finance Banking Retail Customer 98

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.

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Finance Consulting Customer 105

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 91

Motor Trader

NOVEMBER 20, 2024

Auxillias is launching the Auxillias Motor Finance Hub , a single resource providing advice and updates on regulatory developments relating to the motor industry. Jo Davis, Auxillias CEO, said, “We created the Auxillias Motor Finance Hub to be an easy way for clients to stay current with the constant movement in our sector.

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Finance Consulting Development 52

Carscoops

SEPTEMBER 16, 2024

The VW Group is transitioning away from its own private financing branch for customers. The shift in financing strategy comes amid a slump in VW’s financial performance. Volkswagen announced on Monday that its US Financial Services arm (VWFS) would partner with Wells Fargo to provide financing for customers.

Finance 126

Finance Dealerships Customer Marketing 126

Motor Trader

AUGUST 7, 2024

The consumer new car finance market reported new business by value in June 6% lower than in the same month in 2023, while new business volumes fell by 12%. The consumer used car finance market reported a fall in the value of new business in June of 13% compared with the same month in 2023, while new business volumes fell by 10%.

Finance 104

Finance Marketing Sales 104

Motor Trader

NOVEMBER 14, 2024

Money expert Martin Lewis has hit the headlines again claiming that the Financial Conduct Authority (FCA) review of motor finance could see a doubling of claims. The judgment related to fixed commission in motor finance agreements as well as discretionary commission arrangements (DCAs), which were banned by the FCA in 2021.

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Finance Consulting Deal 59

Motor Trader

NOVEMBER 18, 2024

James Tew, CEO of iVendi, said: “Everyone in motor finance will have been pleased to hear the Chancellor seemingly recognise that change is needed around the FOS and FCA to provide greater fairness and clarity to both customers and lenders, and avoid the kind of confusion we have seen in recent weeks.

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Finance Consulting Development Customer 52

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 Demographic 130

Auto Express

OCTOBER 22, 2024

Negative equity isn’t usually associated with car finance but it can happen. Here’s everything you need to know…

Finance 105

Finance 105

Motor Trader

NOVEMBER 13, 2024

The Financial Conduct Authority (FCA) is looking at extending the time finance firms have to deal with motor finance commission claims. The finance watchdog is consulting to see whether to allow more time following a ruling by the Court of Appeal in October. The two lenders involved in the cases intend to appeal.

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Consulting Finance Deal Marketing 59

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. Agility is at the heart of a dealer’s success.

Finance 64

Finance Banking Retail Development 64

Motor Trader

NOVEMBER 15, 2024

The Finance & Leasing Association (FLA) has bolstered its board with the appointment of Richard Hoggart, founder and CEO of DSG Finance Group, to the FLA Board. The appointment is a key one for the trade body as it represents the views of finance houses during a turbulent period for motor finance.

Finance 52

Finance 52

Car Examer

OCTOBER 20, 2024

Here’s a breakdown of the ways some car finance companies fail consumers—and how you can protect yourself. When it comes to buying a car, car finance is a popular choice for many people. However, not all car finance deals are as good as they seem. However, finance companies sometimes use a narrow interpretation of this act.

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Finance Repairing Extended Warranty Spread 59

Autocar

NOVEMBER 11, 2024

Commissions paid unknowingly by customers have accounted for large chunks of profits for dealers, which have teams dedicated to growing revenue from finance and insurance deals, or ‘F&I’ (including GAP insurance). The figures, which included its US operations, show that finance and insurance generated 3.1% This is very unexpected.

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Finance Gap Insurance Banking Insurance 55

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.

Finance 98

Finance Banking Deal Automotive 98

Motor Trader

NOVEMBER 7, 2024

Consumer car finance new business volumes grew in September by 4% compared with the same month in 2023, according to the FLA. The consumer car finance market is the largest of the UK consumer credit markets accounting for 36% of the total value of outstanding consumer credit contracts at the end of September 2024.

Finance 64

Finance Marketing 64

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. This story continues at Admiral to set up UK motor finance approved dealership network Or just read more coverage at Motor Trader

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Networking Finance Dealerships Insurance 111

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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Finance Insurance Banking Deal 103

Motor Trader

FEBRUARY 12, 2024

The number of complaints received about motor finance and commission payment is closing in on half a million on the Martin Lewis MoneySavingExpert website. The guide included a free car finance reclaim tool so.

Finance 85

Finance 85

Motor Trader

AUGUST 16, 2024

The Sun newspaper, which is owned by News UK, is gearing up to launch Sun Motors , a car listing and financing platform. Finance compliance is being handled by Nick McDonald & Jon Rix from The Compliance Guys , experts in motor finance compliance. It said it will soon be in touch with dealers to get them on board.

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Finance Management Dealerships Development 104

Motor Trader

OCTOBER 29, 2024

MotoNovo Finance has paused selling motor finance while it updates its processes. The move follows a Court of Appeal ruling on Motor Finance motor finance Discretionary Commission Claims, which ruled in favour of consumers.

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Finance Customer 52

Motor Trader

APRIL 9, 2024

October 2013 Dealers have turned in a strong performance in a consumer motor finance satisfaction survey carried out by technology firm iVendi. The survey found most consumers believed they had been treated fairly by the retailer in their online vehicle finance interaction.

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Finance Retail Buyer Technology 105

Motor Trader

JULY 30, 2024

The motor finance commission review is set to face further regulatory and public scrutiny following the publication of the latest update from the Financial Conduct Authority. This story continues at Public and regulatory scrutiny of motor finance ‘set to grow’ Or just read more coverage at Motor Trader

Finance 105

Finance Insurance 105

Motor Trader

NOVEMBER 1, 2024

Suppliers are scrambling to update their systems to allow for the recent motor finance commission judgement made by the Court of Appeal. Some finance firms paused writing more finance as they took on board the surprise ruling. The cloud-based platform provides a complete audit trail of the customer’s actions.

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Finance Technology Customer Deal 59

Car Examer

OCTOBER 19, 2024

Here’s a step-by-step guide to help you understand your options how to finance a used car and get the car you want without the stress. Buying a used car is a smart way to get on the road without spending a fortune, but how do you go about financing it? Personal Loan A personal loan is a simple and direct way to finance a used car.

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Finance Balloon Payment Mileage Limit Banking 59

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

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Finance Customer Automotive 101

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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Finance Balloon Payment Banking Deal 75