All articles by Fred Crawley
Fred Crawley
Growing lender Conister hires Cartwright
Manx car finance provider Conister Bank has hired Brian Cartwright, formerly employed at Barclays, to take the position of Sales Director at its Manchester office. As a line manager for broker managers Mike Hirst, Iain Griffin and John Rosbottom, Cartwright will form part of the offshore-based banks campaign to build its share of the UK market Within the motor finance market, Conister almost exclusively provides hire purchase products through brokers, with a particular appetite for business in the prestige and classic vehicle market
Daimler to revamp wholesale systems in UK
Daimler Financial Services, incorporating Mercedes-Benz Financial Services, will begin implementing a new system for administrating stock funding in the UK from November this year. The new wholesale finance system (WFS), provided by stock funding specialist Sword Apak, will replace Daimlers current Datascan system, and is intended to be fully operational by April 2013. Commenting on his companys decision to adopt a new stock funding solution globally, director of European operations Thomas Weltrowski said that the nature of wholesale finance made it easier to adopt one system across multiple jurisdictions.
HPI appoints head of automotive finance
Vehicle information provider HPI is demonstrating commitment to further involvement in the motor finance industry through the appointment of Darren Greenyer as head of automotive finance. Greenyers role will involve the development and marketing of HPIs financial product offerings to both motor dealers and lenders involved in the F&I business. Already in his time at HPI, Greenyer has been heavily involved in the creation and launch of HPI Finance Gateway, the companys online proposal and lender-finding system for retailers.
SAF accreditation for three top dealers
Three top UK dealer groups have been awarded approved status in the FLAs Specialist Automotive Finance (SAF) competence test scheme in the past month: Arnold Clark, Marshall and Rybrook. With Jardine Motors also expected to be accredited by the end of July, 22 of the UKs 30 largest dealer networks will be able to display the SAF kitemark in showrooms. While negotiations are continuing to get the remaining top networks on board, Motor Finance understands that the FLA is also seeking to get more mid-sized retailers involved.
Dear Diary: location, location, location
The FLA timed its most recent release of fraud figures to coincide with the beginning of Car Crime Awareness Week and the decision seems to have paid off, for local press titles all over the country seem to have become hyperaware of the levels of motor finance fraud going on within their area of coverage.
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Motor industry stats from the SMMT
Moving annual total stood at 1,964,000 units, down more than 195,000 units year-on-year Full-year market expected to be 1,930,000 units, 34,000 units down on moving annual total
Editor’s letter: follow the fleet
Usually this space would be occupied by a discussion of the state of play in retail motor finance, but there are some large stories gathering speed in the world of fleet which demand a mention. Just before Motor Finance magazine went to print, it emerged that Dutch banking giant ING is exploring the potential sale of its fleet leasing arm, ING Car Lease. The deal, reportedly worth 4bn (£3.5bn), would involve over 3bn in debt, as well as the need for any buyer to inject up to 750m in capital to the company as a balance sheet buffer.
Shoosmiths offers full service collections
After running a full service collections service for a key client over the last two years, national law firm Shoosmiths is to offer a Portfolio Management product to the wider motor finance market. Overseen by head of collections Kevin Parker, the service has been designed to handle all collections, recoveries and litigation work for clients, while also looking after regulatory compliance.
Personal leasing on rise
Car buyers are primarily focused on getting a good deal on finance rather than ownership, according to the Finance & Leasing Association (FLA). In April, new car leasing and personal contract purchase (PCP), where the car remains the property of the finance company, were up by 41% and 10% respectively.
Bank of Ireland pushes for greater share of POS market
Bank of Ireland asset finance subsidiary NIIB, which trades as Northridge Finance in England, is aiming to achieve double-digit growth in UK dealer finance over the next year. Led by general manager James McGee, the business is embarking on a five-year expansion plan that will see it develop its profile among English dealerships. Already the point of sale market leader in Northern Ireland, NIIB was established in Scotland in 1999, and began operations in England in 2003.