All articles by MF Editorial

“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.

Hybrids: Masterlease urges fleet ‘caution’

Hybrids: Masterlease urges fleet ‘caution’ Hybrids may be the flavour of the moment among celebrities – but fleets should exercise caution before adding large numbers of the fuel-efficient vehicles to their books. Dean Bowkett, head of pricing at fleet lessor Masterlease, has underlined the need for fleet managers to do the maths and measure financial realities against star-fuelled hype when evaluating the use of hybrid vehicles. In the face of endorsements of the Toyota Prius by actors such as Harrison Ford and Gwyneth Paltrow, Bowkett stressed that Hollywood affections were no substitute for level-headed economic consideration in discussions over hybrid use.

Zenith sees 2007 profits rise by a quarter to £5.3m

Zenith sees 2007 profits rise by a quarter to £5.3m Zenith Vehicle Contracts had a successful year in 2007, and grew its profits for the 12 months to March 31 2008 to £5.3m, up 26 per cent on the same period the previous year.

Fleet distributor acquired by auction giant for £2.8m

Fleet distributor acquired by auction giant for £2.8m Vehicle remarketer BCA has acquired United Fleet Distribution (UFD) from Mears Group plc in a deal worth £2.8m.

Misleading’ media report warns against PCP

Misleading media report warns against PCP The data company EurotaxGlasss has predicted that owners of cars between one and three years old could see their vehicles values tumble at an accelerated rate this year, as a result of the governments decision to change VED rates (click here for more details), with the credit crunch playing a significant role as well Glasss Guide forecast that cars within this age range could see their value fall by 25 per cent in 2008, rather than the 19 per cent which might normally be expected. An article in the Sunday Times on June 10 stated that, as a consequence, thousands of drivers who buy their cars using finance deals such as personal contract purchase (PCP) could find they are saddled with debt worth more than their car, as the minimum guaranteed future values (MGFV), set when the PCP agreement was taken out, could end up being higher than the actual value of the car after three years.