Vehicle dealership group, Border Cars, has announced that it has filed to close after over 42 years of trading. Borders Cars is one of the biggest car dealerships in south-west Scotland and Cumbria with more than 200 jobs under threat. In a public statement, the company said it was “greatly saddened” to announce its closing…

Barclays Partner Finance has announced that it will be pulling out of motor finance market as a result of an internal strategic review. The company has issued termination notices to dealer partners within the industry explaining its decision. In a statement, Barclays Partner Finance said “Barclays Partner Finance is currently number one in UK retail…

New figures released by the Finance & Leasing Association (FLA) show that point of sale (POS) consumer car finance new business volumes fell by 3% in May compared with the same month in the previous year.  The value of new business fell by 1% over the same period. New business in the POS consumer new…

New figures released by the Finance & Leasing Association (FLA) show that consumer finance new business fell in May by 2%, compared with the same month last year. The retail store and online credit sector reported new business up in May by 2% compared with the same month in 2018, while credit card and personal…

Almost half of consumers are currently in debt and believe the rising cost of independent living is to blame. A survey of 1,000 UK adults published in The UK Spending Report, commissioned by a leading personal insolvency practice, Creditfix, has revealed that almost 1 in 2 consumers(46%) are currently in debt. Those who admitted to…

DealTrak has announced a collaboration with Godel Technologies to develop the next generation of a leading FinTech platform – doubling the collective headcount from 10 to 20. Leeds-headquartered DealTrak – a technology firm which helps thousands of UK car showrooms to manage the finance and insurance (F&I) side of their business – has joined forces…

Here is an overview of The Money Charity’s latest statistics for June 2019: Personal debt in the UK People in the UK owed £1,637 billion at the end of April 2019. This is up from £1,588 billion at the end of April 2018, an extra £946.00 per UK adult over the year. The average total debt per…

Challenger credit bureau Credit Kudos has announced they are the Open Banking and Credit Risk partner of choice for the car finance broker, CarFinance 247. Credit Kudos is an FCA-Authorised Credit Bureau and AISP that uses financial behaviour to measure creditworthiness, harnessing Open Banking. Credit Kudos will be supporting both CarFinance 247’s lending and broking…

The Government has announced a new breathing Space scheme which will protect Individuals and families struggling with problem debt. Under the new scheme, consumers will be given extra help and time to get their finances under control, City minister John Glen has revealed. The new plans will see the introduction of a 60-day Breathing Space…

Point-of-purchase lending platform Divido has announced that it has been selected by Triumph Motorcycles, to deliver point-of-purchase finance on after-sale products across the UK. Building around 60,000 bikes per year, Triumph Motorcycles is Britain’s largest motorcycle manufacturer and has over 750 dealers across the world. Divido’s lending platform enables Triumph Motorcycles to provide consumers with…

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