All articles by MF Editorial
MF Editorial
Systems for success
Systems for success For our Technology Survey 2007 Brian Rogerson asks software companies exactly what they believe motor lenders and brokers require most from technology at the present time But the potential benefits are much greater for example as an extra channel to market or a means of reducing costs Oyster Bay Systems
Brokers expand services for small fleets
Fleet brokers could soon gain a reputation for high levels of customer service and retention culture instead of the boom-and-bust mentality that has traditionally been associated with the industry
Finance agreement volumes
While conditional sale (volumes down 1.4 per cent YTD compared with the same period in 2007) and credit sale (down 17 per cent) slowly lose their popularity, PCP, with its powerful customer-retention appeal, is likely to be the finance product of the immediate future, with 12.2 per cent growth YTD.
British Credit Trust stops paying commission to brokers
Non-prime motor finance lender British Credit Trust (BCT) has told members of its broker network that it will no longer pay them any commission for placing deals with retailers
H1 woes for Pendragon
Pendragon has reported a significant drop in profits in its H1 interim report, with pre-tax profits dropping 37.1 per cent and revenue down 8.7 per cent thanks to weak demand and rising vehicle ownership costs.
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Private & Commercial Finance predicts rise in H1 profits
The consumer and business finance divisions of lender Private & Commercial Finance Group (P&CF) performed in line with expectations in the six months to September 30 2008, despite the concurrent upheaval in financial markets Finance receivables grew by 5 per cent over the period to reach £170m, including finance charges to be recognised in future periods of £30m, P&CF said, while profit before tax is expected to increase by 15 per cent compared with the corresponding period in 2007. CEO of P&CF, Tony Nelson said of the groups consumer motor finance activities: “P&CF predicted last year that there would be a recession, so we are writing volumes of business that we are happy with on terms we are happy with.
Lender stops paying commission to brokers
Lender stops paying commission to brokers Sub-prime motor finance lender British Credit Trust (BCT) has told members of its broker network that it will no longer pay them any commission for placing deals with retailers.
Brokers write less vehicle finance in 2008
Brokers write less vehicle finance in 2008 The past years difficult economic conditions have taken their toll on the NACFB’s membership, with the association’s annual poll of members showing that vehicle finance written by members dropped by 14 per cent compared with 2007, to £1.1bn (2007: £1.3bn).
New “Logical” leasing service hits market
Brian Rogerson finds a new business – led by a familiar name – that is thriving amid economic turmoil It is some three months since Saul Parsonson launched Logical Vehicle Management (Logical) and already he is aiming to increase its staff complement to cope with new business leads As a fleet vehicle intermediary, Logical is specifically designed to offer a far wider range of services than that of most brokers in the company car sector
Light vans
The light van sector has great penetration with fleet operators and leasing companies and comes back to the used market in large numbers, with many variants, specifications and colours