All articles by Richard Irvine-Brown
Richard Irvine-Brown
Changing bike market offers lenders new deals
With the average price of a new motorcycle in the UK now similar to that of used or smaller cars, the bike market may present financers with an opportunity to do more deals, according to Paul Harrison of the Finance & Leasing Association (FLA) and former motorcycle dealer specialist Cole Demetriades. The higher proportion of sales in 2012 taken up by motorcycles over 650cc has pushed the average price of a new bike in the UK to approximately £6,300 despite smaller bikes (under 125cc) now taking up more than a third of sales.
GM looking to reabsorb parts of GMAC
General Motors Financial Co Inc, the new captive finance arm of US manufacturer GM, has declared its bid to acquire certain international components of Ally Financial, the rebranded entity created from GMAC, GMs former finance arm. GM Financial has not confirmed which international operations it has bid for, only that the acquisition, if it went ahead, could more than double the companys assets, debt and liabilities
Silver bullets, spaceships and dinosaurs
The terminology may have been diverse but the theme, using technology to aid best practice, was consistent at the Finance & Leasing Association’s 2012 Used Car Seminar.
Consumer guidance
Peter Landers, consumer finance expert at Grant Thorntons Leasing & Consumer Finance financial and strategic advisory team, advises Richard Brown where the opportunities lie in car finance.
Frontline bullish on prospects for F&I
F&I systems provider Frontline Solutions UK and its backer Capricorn Ventures International (CVI) have both spoken of unmistakable signs of continued growth in the motor finance market in a recent trading statement. Given the continuous rise in the penetration of dealer finance in car sales, Frontline managing director Andy Shuter explained in the statement, F&I was unmistakably a growth industry
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Fleet Friday: Lex, Honda, ACFO and more
The weekly round-up of all things fleet including Lex Autolease partnership with Suzuki, departure at Honda Fleet, promotion at Leasedrive, ACFO board elections and TIP digital update. Lex Autolease has entered into a partnership with Suzuki Financial Services to offer contract hire to fleet customers with fellow Lloyds subsidiary Black Horse offering personal contract hire for the Japanese manufacturer.
Citroën push personal lease ahead of September
French carmaker Citron will launch a range of personal lease packages funded by Banque PSA Finance ahead of Septembers change of registration plate Despite a worldwide drop in sales of 10.7% year-on-year experienced between Citron and sister brand Peugeot, UK sales for both brands have been buoyant Year-to-date, both brands have added roughly 2,000 new registrations to their sales at the same point of 2011
Volvo and CAP partner for comparison tool
Volvo Car UK and CAP have developed a car features and price comparison tool for private customers, fleet managers and company car drivers, available through the Volvo website. The Volvo Compare scheme aims to offer fully transparent costing of any car in the Volvo range compared with up to four vehicles displayed on one screen, including potentially any vehicle already on the road. Powered by CAP data, the comparison tool will run across 16 different attributes, ranging from fuel consumption and Vehicle Excise Duty rates for private consumers to maintenance costs and Benefit-in-Kind taxation for business users.
Suzuki launches contract hire with Black Horse
Suzuki Financial Services is set to offer contract hire and personal contract hire (PCH), in partnership with Lex Autolease and Black Horse, beginning this month. Both products will be aimed at the business user market, which Suzuki puts at 66,000 customers operating 1.5 million vehicles, although PCH will be marketed at retail customers including those coming from company car schemes. The Japanese carmaker is targeting new business custom in particular, such as estate agents, solicitors and accountants, according to a company statement, estimating a fifth of business customers run a fleet of no more than 40 vehicles.
Revamp, status change and merger for Shoosmiths
Law firm Shoosmiths, specialists in retail and commercial asset finance, have announced a new look and website to coincide with the firm becoming a Limited Liability Partnership. This is the firms first rebrand for nine years, during which time it has added offices in Birmingham and Manchester and launched a private client arm called Access Legal