All articles by Verdict Staff
Verdict Staff
GE Capital signs ?50m European financing programme
GE Capital has signed an agreement to provide Italys Ducati and its dealer network with a pan-European floor plan financing facility of up to 50m (£44m). Under the agreement, GE Capital will finance Ducatis motorbikes from the time they leave the factory until they are sold to customers, providing the manufacturers European dealership network with additional liquidity and extended payment terms.
Dealers and insurers pensive over ABI GAP guidance
Dealers, insurers and F&I experts from across the UK gathered in London yesterday to identify the future of insurance products at the point of sale, and assess the opportunities for dealers to maintain profitability in an ever-changing regulatory landscape The event, ‘Finding new profit centres what are the F&I options for dealers post-PPI?’, was hosted by Motor Finance and software house Frontline Solutions, and saw 14 delegates engage in a round table discussion on subjects including the future regulation of GAP insurance, methods of maintaining PPI sales, and the development of income protection products.
Lombard backs SMMT
Lombard, the UKs largest asset finance company, is to sponsor the annual dinner of the Society of Motor Manufacturers and Traders on 22 November, as part of a campaign to increase its profile as a lender among UK businesses. While Lombard is a provider of stocking finance to the car retail industry, this is not the primary message the company wants to put across by putting its name behind the SMMT dinner. A spokesperson explained that the decision had been made instead to reinforce its position as an asset finance lender to the commercial transportation sector, a role it has filled since it started life as the North Central Wagon Company in 1861.
CAP launches bespoke analysis service
Vehicle data provider CAP has launched a bespoke research, analysis and reporting service for major clients, to be known as CAP Automotive Intelligence Services. Comprehensive reports have been provided to a number of car manufacturers, aimed at helping them to launch of new models in the UK.
DealTrak inks agreement with Co-operative
The Co-operative Motor Group has signed a new three-year agreement for the supply of the Elite version of F&I system DealTrak123. The terms of the agreement will allow for additional consultancy and training services from dealer Nottinghamshire-based EXCEL. Andy Shuter, managing director of Frontline Solutions, which produces DealTrak123, said: “Our system is really gathering pace at the moment, and we want to deliver added value to our Elite clients wherever we can
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Steering group aims to help all funders
A new steering group set up by the British Vehicle Rental and Leasing Association (BVRLA) could encourage a raft of new funders into the vehicle rental and leasing market. The BVRLA states the groups aims are to improve the availability of competitively-priced funding for the industry and to help existing and potential funders better understand its risks and rewards. The group has been formed as the industrys main funder, Lloyds Banking Group, continues to reduce its £1bn exposure to the rental and leasing market
People on the move
GE Capital Fleet Services has appointed Simon Cook as light commercial vehicle (LCV) leader and Eddie Parker as LCV consultant. Cook has been in the commercial vehicle industry for more than 25 years and previously headed up the sales and operations team at TLS Vehicle Rental.
The cost of money – decoded
Chris Sutton, managing director of Black Horse and chairman of the Finance and Leasing Association, demystifies the cost of lending. As any finance provider will, Im sure, agree, charging the right price for the money they lend is a balancing act. It has to take into account the margin and overheads the finance house has to make to stay in business
Editor’s letter: Silver lining to a gloomy picture
Adjustments to pricing across the car finance industry this month have highlighted the issue of competition in the months to come While the question of whether competition will be played out in price or service levels is a discussion all to itself, it is first worth asking what lenders will be competing over. Certainly, given the flat April seen by most retailers, its looking more and more likely that there wont be a surfeit of new business for lenders to capture most seem to be expecting a market very similar in size to that of 2010.
HBJ Gateley Wareing rebrands
Solicitors HBJ Gateley Wareing has adopted Gateley as its new national brand in England and Dubai In Scotland the firm is now called HBJ Gateley. The firm has 145 partners located in offices in Birmingham, Edinburgh, Glasgow, Leicester, Nottingham, Manchester, London and Dubai.