How vulnerable are your finance customers?

By |2024-04-16T09:58:52+01:00April 16th, 2024|Dealer Insights, Leasing & Finance, News|

Motor retail technology company said that, from a sample of more than half a million sessions of consumers using its motor finance tools, 4.3% were potentially classified as vulnerable. Of these, almost one in five (17%) were successfully signposted to third party and lender links such as support lines.

Young drivers increasingly favour leasing

By |2024-04-10T11:36:05+01:00April 10th, 2024|Leasing & Finance, News|

The shift towards leasing is especially evident in the electric vehicle (EV) market. With the looming phase-out of traditional petrol and diesel cars, drivers are eager to explore EVs without committing to long-term ownership. Leasing allows them to enjoy the benefits without worrying about battery issues, as they can easily switch to a new EV at the end of their contract.

Online Consumer Duty compliance appears to be working

By |2024-04-09T08:53:10+01:00April 9th, 2024|Dealer Insights, Leasing & Finance, News|

One thousand recent car buyers were asked a series of questions about the online motor finance process* – with 87% saying it was fair and transparent, 82% that they felt in control and 85% that they were given sufficient information which explained the available finance products.

Halal car finance platform, Ayan Capital, launches in the UK

By |2024-03-25T12:28:17+00:00March 25th, 2024|Leasing & Finance, News|

With the number of PHVs and PCOs projected to rise, Ayan Capital empowers new and existing business drivers to purchase a new vehicle with its Islamic finance offering. Its tech-enabled solution is fast, accessible and easy-to-use, allowing the drivers, who are approved, to obtain a car for up to £50,000 within days from any dealership in the UK.

Car buyers satisfied with finance buying experience despite FCA probe

By |2024-03-12T10:22:07+00:00March 12th, 2024|Leasing & Finance, News|

Last year 93% of buyers said they were satisfied with the explanation given to them by dealership sales staff of the available finance packages, up from 91% in 2020. While satisfaction with the explanation of paperwork and documentation related to finance increased from 93.5% to 95%.

‘Supplier Direct Funding’ sees record growth

By |2024-02-06T11:24:22+00:00February 6th, 2024|Dealer Insights, Leasing & Finance, News|

Supplier Direct Funding, which is just one of the stock funding options available from MotoNovo, can be used to stock cars, LCVs and motorcycles, has been a huge hit with dealers who value the convenience of the service and the way in which the digitised process takes time and cost out of the funding process. 

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