PCP accounts for more than 80% of the new car finance sold in the UK, but PCH is growing fast, mostly at the expense of hire purchase and personal loans
PCP still accounts for more than 80% of the market, but personal contract hire is growing faster than any other form of finance in new car retail
The future of motor finance - from MaaS to all-in-one payment models, to online finance – AM asks the experts what dealers can expect
Spencer Halil, director of Alphera Financial Services, why car dealers need better standards of training when it comes to finance sales.
Motor retailers need to be more conscientious than ever to avoid the consequences of mis-selling, delegates at Automotive Management Live were told.
Making sure your used car customer gets the right finance offer for them is paramount. We look at what works best in different situations
Tim Smith, Black Horse’s head of motor finance, explains why increased scrutiny of PCPs is a direct result of their success.
The internet is one of the dealer’s most powerful tools. Use it to show consumers how effective – and FCA-compliant – your specialist motor finance can be
Car dealers are being targeted by criminals making fraudulent car finance applications. Sgt Kate Jackson of the NVCIS explains how to spot them.
There may be some softening of demand over the year, but PCPs make getting a new car very affordable in comparison to HP or outright purchase. That way of funding their vehicle is very much part of the consumer psyche now.
AM asks industry experts to assess the risks facing motor finance in the UK. This week: Adrian Dally, head of motor finance, Finance and Leasing Association.
Prepared car dealers can minimise risks to the finance market – whether from competitors, regulation or market pressures.
The new car sales boom depends on cheap, available finance, but storm clouds are visible on the horizon.
Mike Dennett, managing director of BMW Financial Services, on how PCPs affect the market, the impact of the FCA and BMW’s digitally disruptive partners.
Whether car dealers like it or not, compliant F&I is a must, and many see self-service as the key.
The best advice from the F&I theatre at Automotive Management Live - sponsored by Car Care Plan and Alphera
Most of your customers visit your website and go on to buy cars using finance – make their journey as easy as possible.
Finance companies have adapted well to enhanced legislation, but say they are working hard to anticipate future changes to the industry.
Car-buyers increasingly expect a seamless online-to-showroom experience, including the opportunity to organise finance options.
The target-driven used car salesmen of yesteryear are being replaced by dealership ambassadors, who ‘consult’ with their customers rather than ‘closing’ them.
Dealers have traditionally been slow to embrace online sales, such as finance or GAP, and many are currently resisting selling extended warranties online.
Despite a bigger compliance burden, finance levels have grown strongly, but what can dealers do to make sure volumes, values and penetration continue to rise?
Insurers are concerned about the FCA’s definition of ‘value for money’ in add-on products.
Finance and insurance products face more regulation and scrutiny, but there are still ways for dealers to boost profits.