All articles by MF Editorial
MF Editorial
Welcome Car Finance: 2007 profits grow
The car retail arm of non-prime lender Cattles, Welcome Car Finance (WCF), grew its income by an impressive 75.8 per cent in 2007 compared with the previous year, to £106.1m (2006: £60.4m). Unit sales rose by 53 per cent to 13,763 vehicles.
Beware false economies
With markets hardening and credit becoming tighter, motor lenders may be seeking economies in their software outlay. Brian Rogerson asks whether software providers are worried at the prospect.
Lex back-office deal renewed
Lex back-office deal renewed The financing relationship between Lex and Honda Finance Europe (HFE) has been extended for a further three years Lessor Lex provides HFEs dealers with back-office HFE-branded contract hire services, with all customer relations dealt with by HFE.
Lessors urged to back safety campaign
Lessors urged to back safety campaign Road safety partnership RoadSafe is calling on fleet and leasing companies to support its government-backed Driving for Better Business campaign, which aims to promote safety among business drivers. Companies wishing to show their support for Driving for Better Businesss objectives – available at http:www.drivingforbetterbusiness.com – are urged by RoadSafe to sign up for the monthly email newsletter, which RoadSafe said will provide useful and up-to-date information on subjects related to safer driving for work.
Retailers’ relief as BoE cuts interest rates to 5.25 per cent
Retailers’ relief as BoE cuts interest rates to 5.25 per cent The motor retail sector had reason to cheer as the Bank of England’s Monetary Policy Committee cut interest rates to 5.25 per cent, responding to a sharp fall in manufacturing output in December 2007 and falling levels of consumer confidence
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Like hot cakes or hot buns?
Now whilst early sales were very encouraging the demands of my lease brokerage meant that the marketing of the book was pretty much non existent last year so sales fell away
Weaker economy will knock £400 off re-sale value of every used car
Weaker economy will knock £400 off re-sale value of every used car The gloomier outlook for the UK economy this year looks likely to have ramifications for the used car market, according to EurotaxGlass’s, publisher of the Glass’s Guide, a guide for used vehicle values
£1m Coffee Nation fleet deal
£1m Coffee Nation fleet deal Lombard Vehicle Management (LVM) has won a contract worth approximately £1m to provide contract-hire, maintenance and tracking services for Coffee Nations new fleet of 40 vans
New insurance rules published by FSA
New insurance rules published by FSA The Financial Services Authority (FSA) has cut the red tape in its Insurance Conduct of Business (ICOB) sourcebook, a move hailed as indicative of a shift towards principles-based regulation by Dan Waters, the FSAs director of Retail Policy and Themes. Waters said: Some of these new measures will apply to all protection products including a new standard to ensure better oral disclosure of key information about policies to help consumers make informed purchasing decisions.
Dodgy delivery dates
Dodgy delivery dates Over the last year it has become very apparent that we brokers have made life far too easy for lenders and dealers We are at the sharp end invariably making excuses for their errors or shortcomings