Keep up to date with Mann Island’s latest news and insights about the motor industry and operating environment
It is an ever more complex landscape for car dealers looking to sell their stock. The old days of the Friday evening classified in the local paper are long gone.
The car retailing model has developed what could be seen as an unhealthy obsession with linking increased sales to low prices.
Dealers looking for a sales growth opportunity have only to look at the small and medium sized business (SME) sector and LCVs.
Finance has been instrumental in helping dealers to retail cars over recent years, but dealers need to ensure they are not placing themselves at risk by breaching financial promotion regulatory requirements.
Across financial services fraud is a growing issue and motor finance has seen a notable increase in recent years with criminals making fraudulent car finance applications using fake documents and identities to acquire and steal vehicles.
It’s a move that may help stimulate sales of newer vehicles unaffected by the ULEZ charge, whilst at the same time creating additional downward pressure on used vehicles values, notably older diesel cars.
At Mann Island Finance, we are big fans of the benefits of digitisation and continue to invest in new technologies to improve speed, accuracy and the customer experience.
Find out more about our commitment to delivering good outcomes for our customers and to lending responsibly.
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