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FCA expects that action should be taken now to improve compliance with current requirements and ensure fair treatment of customers.
FCA expects that action should be taken now to improve compliance with current requirements and ensure fair treatment of customers.
Startline Motor Finance says lenders appear to be tightening their rules just at a point when used car retailers need greater flexibility from their motor finance.
New Britain Under the Bonnet report from Close Brothers Motor Finance reveals that in the past year, the proportion of drivers saying they will opt for finance, leasing or renting for their next car has increased by 15% (from 37% in 2018 to 43% now).
When it comes to car finance, you are free to take a look around and find the best deals that are available to you.
Dealers can electronically record VAT transactions and adjustments, generate and submit returns directly to HMRC and collate and submit returns within a single VAT registration number.
Lead management expert Dealerweb said that finance penetration jumped by 2.1% to 46% in April against the same month in 2018. It marked a 6.4% increase in used car finance sales as dealers continued to focus on used revenues.
Concerns that putting tougher and more compliant processes in place would lead to a slight decrease in conversions look to be unfounded with a slight increase on online motor finance detected.,
SMF sees grwoth in an expanding sector of car buyers who, despite showing evidence of affordability, are being isolated from mainstream borrowing.
Dealers and brokers are in pole position to help lenders to gain the distribution they need to link their finance with would-be car buyers who need an affordable repayment option to help them to finalise their purchase, said Jigsaw Finance
As the balance of activity in franchise dealerships has shifted away from new to used car sales over the last year, this process has accelerated. Increasingly, cascade models for disposal offer the best stock to franchisees on more than one occasion before it is offered to other dealers.