All articles by MF Editorial

BVRLA calls for ‘fair and transparent’ car taxation

The Chancellors Pre-Budget Report (PBR) should be used by the government as an opportunity to clear up all remaining uncertainty surrounding the major Corporation Tax Review planned for April 2009, said the British Vehicle Rental and Leasing Association (BVRLA).

Carlyle Finance offers ‘time out’ to motor loan customers

Carlyle Finance has introduced a new tool to help its dealer partners sell motor finance alongside cars: the “Time Out” loan Designed to give customers a month off making payments every year, Carlyle said it expected the Time Out initiative to help dealers during what is a difficult time for motor retailers. Under the terms of Time Out, an agreement which would originally have run for 24 months will instead run for 26 (i.e. 24 2), and a 36-month agreement for 39 (36 3)

Surprise rate cut welcomed by NFDA

Surprise rate cut welcomed by NFDA The surprise decision by the Bank of England’s Monetary Policy Committee on October 8 to cut interest rates by 50 basis points to 4.5 per cent was welcomed by the head of the body representing UK motor retailers.

Manufacturers opt for DealTrak123

Manufacturers opt for DealTrak123 Frontline Solutions has launched DealTrak123, a point-of-sale system that allows commercial vehicle and private car dealers to stream a finance proposal to the most appropriate lessor without the need to multi-proposing deals. Andy Shuter, Frontlines director told Motor Finance that a franchised automotive dealer typically directs some 55 per cent of proposals to the manufacturers captive finance company, 25 per cent to a second-tier prime lender and the remainder (20 per cent) to a broker.

“You can get finance – as long as you can prove you don’t need it”

BCTs decision to stop paying commission to intermediaries is the latest in a series of upheavals in sub-prime motor finance, Jo Tacon finds After the bombshell had been dropped, there was, apparently, a long silence, before one brave soul asked: Well, how are we expected to stay in business? The reply from BCT was that brokers could, perhaps, sell more add-on products (GAP and payment protection insurance, for example), or could ask dealers to pay them a commission, in return for arranging finance for a customer

Interest rate cut good news for motor industry

The decision to cut rates by 150 basis points – the largest reduction since the Bank of England gained the power to set interest rates in 1997 – is “positive news for consumers and business”, said the director of the RMIF’s National Franchised Dealers Association, Sue Robinson.

Retail meltdown: Arrears management

Peter de Rousset-Hall of Woburn Consulting warns that motor finance providers need to look closely at their arrears management process

Green vehicle rental company gains BVRLA accreditation

Motor Month

Zenith’s 116-vehicle fleet deal with brick firm

Zenith’s 116-vehicle fleet deal with brick firm Clay brick manufacturing firm Wienerberger has awarded independent fleet provider Zenith Vehicle Contracts a contract to supply its 116 vehicle fleet.