BYD appoints Santander Consumer Finance as dealer finance partner
Santander Consumer Finance’s partnership with BYD takes its total number of manufacturer partners to 17 and follows the recent signing of INEOS Automotive and Polestar.
APD launches new high-tech software to drive dealership profitability
ProfitPlanner+ is designed help dealer networks become more efficient and support profitably as the cost of living crisis, fuel prices and rising interest rates start to dampen the market while the introduction of agency models may further impact dealer’s sales volume or supply of used stock as seen in some early adopter markets.
As interest rates and defaults rise dealer finance remains competitive
PCP and HP finance are highly appropriate vehicle financing options. The inherent secure nature of the products delivers high acceptance levels and competitive interest rates. Low unsecured personal loan representative APRs are an option for consumers.
Consumers’ creditworthiness awareness drives change in dealer finance
Consumers are taking greater control of their finances empowered by digital tools and an increasingly active lending sector. It is a challenge the dealer finance community should recognise.
Startline to roll out new Insights to major dealers in Q4
Insights is designed to allow dealers to gain a greater understanding of the finance deals they are processing and give them the means to identify new ways of driving business forward.
Are sales teams the biggest barrier to increasing finance take up?
Once the supply of new cars begins to flow more freely, triggering more part exchanges being brought into the market, it is unlikely chassis profits will be maintained. Dealerships will have to increase those profit margins through add-ons, one of the most important being vehicle finance.
Drive to self-serve dealer finance needs to be competitive
Today’s car buying community expects that the experience should be low friction and price competitive. The personal loan community offers some very competitive interest rates and very commonly full online proposal and fulfilment capabilities.
Dealer finance must fight to win hearts and minds
Perceptions from the press have long seen the media leaning towards personal loans as a less expensive and safer choice. MotoNovo Finance said that in a rapidly changing and increasingly online retailing environment changing vies of used car finance can be rewarding for dealers, their reputation, car sales and finance.
Vehicle finance business accelerates growth ambitions
Company’s recent success is largely due to its new corporate partnerships with five auction houses, City Auction Group, Central Car Auctions, Wilsons Auctions, Shoreham and Fleet Auction Group. These new relationships mark an uplift in strategic partnerships for V12 Vehicle Finance and the business now works with six auction partners across the country.
MotoNovo steps up support for dealers
Smart online tool's availability continues to prove ideal in supporting dealers’ Click and Collect/Click and Deliver services. Launched during the pandemic to help dealers, its availability free-of-charge is now being extended until the end of March.