Consumer finance new business holds steady in October

8th December 2023 Consumer Lending | #consumer credit

New figures released by the Finance & Leasing Association (FLA) show that consumer finance new business in October 2023 was at a similar level to the same month in 2022.  In the ten months to October 2023, new business was 3% lower than in the same period in 2022. The credit card and personal loans…

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Consumer car finance falls by 3%

8th December 2023 Consumer Lending | #motor finance

New figures released by the Finance & Leasing Association (FLA) show that consumer car finance new business volumes fell by 3% in October 2023 compared with the same month in 2022. The corresponding value of new business was 2% lower over the same period.  In the ten months to October 2023, new business volumes remained…

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AutoProtect Group appoints new Chief Executive Officer

5th December 2023 Appointments |

AutoProtect Group Appoints Graeme Nieman as Chief Executive Officer Nieman first joined AutoProtect Group as an Interim CEO in May 2022, bringing a wealth of experience and a deep understanding of the automotive industry. His association with AutoProtect Group extends beyond his interim role, having been a pivotal figure and long-term partner of the business.…

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Car finance lending fell by 3% in September

20th November 2023 Consumer Lending | #car finance

New figures released by the Finance & Leasing Association (FLA) show that consumer car finance new business volumes fell by 3% in September 2023 compared with the same month in 2022. The corresponding value of new business held steady over the same period. In the nine months to September 2023, new business volumes were 6%…

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Consumer finance fell by 3% in September

20th November 2023 Consumer Lending | #consumer lending

Latest data by the Finance & Leasing Association (FLA) has shown that consumer finance new business fell in September 2023 by 3% compared with the same month in 2022. In the nine months to September 2023, new business also remained 3% lower than in the same period in 2022. The retail store and online credit…

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One in ten can’t confidently explain key financial topics 

10th November 2023 Consumer Lending | #car finance

New research by car finance provider, Ford Credit has uncovered a gap in consumer financial literacy with one in ten admitting they can’t confidently explain key financial topics. More than 50% of people looking to buy a car in the next 12 months plan to use car finance; this comes at a time when the…

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Consumer car finance fell by 11% in August

9th October 2023 Consumer Lending | #car finance

New figures released by the Finance & Leasing Association (FLA) have shown that consumer car finance new business fell 11% by both value and volume in August 2023 compared with the same month in 2022. In the first eight months of 2023, new business was 6% lower by both value and volume compared with the…

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Rising fuel prices impact motorist driving habits

4th October 2023 Consumer Lending |

Rising petrol and diesel costs are forcing drivers in the UK to change their driving habits, according to the latest research from carwow. The company polled more than 1,400 motorists and 44% of respondents admit they have changed their driving habits as a direct result of rising fuel prices, with more than two thirds (69%)…

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Cost to borrow rises across credit cards and loans rises

The cost to borrow on credit cards and personal loan costs for new borrowing have jumped in recent months, according to analysis by Moneyfacts. Between the start of June and the start of September 2023 (Q3 2023), the average purchase APR (which includes card fees) rose to an all-time high of 31.8% APR, according to…

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FCA warns insurers over fair value of add-on insurance 

21st September 2023 Consumer Lending |

The Financial Conduct Authority (FCA) has warned insurers that they must prove they are providing fair value to customers for add-on insurance products. The FCA has identified evidence that some guaranteed asset protection (GAP) products  In letters sent to all insurance firms, the regulator reminded them of its expectations to make sure they’re checking their…

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Consumer car finance new business falls by 6%

12th September 2023 Consumer Lending | #car finance

New figures released by the Finance & Leasing Association (FLA) have shown that consumer car finance new business volumes fell in July 2023 by 6% compared with the same month in 2022. The corresponding value of new business fell by 5% over the same period.  In the seven months to July 2023, new business also…

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Consumer finance fell by 2% in July

12th September 2023 Consumer Lending | #consumer credit

New figures released by the Finance & Leasing Association (FLA) show that consumer finance new business fell in July 2023 by 2% compared with the same month in 2022. In the seven months to July 2023, new business remained 3% lower than in the same period in 2022. The retail store and online credit sector…

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Finance set to drive record £23bn in used car sales

Motorists are set to spend a record 1.5 million used cars on finance this year borrowing £23 billion on car finance new research by AA Car Finance has revealed. Consumers bought 388,309 second-hand cars on finance in the first three months of 2023, up from 379,512 the previous year. If current trends continue, consumers will…

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