Paying upfront for a car is increasingly falling out of favour with UK drivers according to research from Close Brothers Motor Finance. 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). While…

The Financial Conduct Authority (FCA) has confirmed it will introduce new rules in the Buy Now Pay Later (BNPL) market, saving consumers around £40-60 million a year. The changes, which include banning firms from charging backdated interest on money that has been repaid by the consumer during the BNPL offer period, will be in force…

New figures released by the Finance & Leasing Association (FLA) show that consumer finance new business in April was at a similar level to the same month in 2018. Credit card and personal loan new business together fell in April by 2% compared with April 2018, while retail store and online credit new business grew…

New figures released by the Finance & Leasing Association (FLA) show that new business in the point of sale (POS) consumer new car finance market fell 2% by value and 7% by volume in April, compared with the same month in 2018. The percentage of private new car sales financed by FLA members through the…

CodeWeavers has appointed a dedicated key account director to work alongside and consult with the UK’s major groups. Adam Canay, who has been promoted to the role,  has 15 years of motor experience, which started in a motor finance broker, combines a deep understanding of the motor retail environment, finance and technology. It is a background…

Leeds-based automotive F&I technology specialist, DealTrak has announced that has employed five new faces, made several internal promotions, and is currently recruiting for nine new roles, as the business gears up for one of its biggest years to-date. With recent figures showing a 13% increase in Q1 proposal numbers, as well as a 10% uplift…

Here is an overview of The Money Charity’s latest statistics for May 2019: Personal debt in the UK People in the UK owed £1,633 billion at the end of March 2019. This is up from £1,588 billion at the end of March 2018, an extra £852.40 per UK adult over the year. The average total debt per…

MotoNovo Finance has announced it has become part of Aldermore, following its successful integration with the UK specialist bank. The announcement comes after Aldermore was acquired by FirstRand group in March 2018, and marks the successful coming together of FirstRand’s UK operations in retail, business and motor finance. The MotoNovo Finance business has been owned…

New figures released by the Finance & Leasing Association (FLA) show that consumer finance new business fell by 2% in March compared with the same month last year. In Q1 2019 as a whole, new business was at a similar level to Q1 2018. Retail store and online credit new business increased by 4% in…

New figures released by the Finance & Leasing Association (FLA) show that new business in the point of sale (POS) consumer car finance market fell 1% by volume in March, compared with the same month in 2018.  The corresponding value of new business was at a similar level to March 2018. The POS consumer new…