Official approval for MotoNovo’s classified auto site

A new sales aggregator service for UK auto dealers has been endorsed by the industry’s official body ahead of its launch. Findandfundmycar.com will launch next year backed by MotoNovo Finance and will provide a new entry into the competitive aggregator website market. As part of its development, the site will use all dealer income to build its brand and have standard pricing for dealers of all sizes.

Official approval for MotoNovo’s classified auto site

Dec 18, 2017

A new sales aggregator service for UK auto dealers has been endorsed by the industry’s official body ahead of its launch. Findandfundmycar.com will launch next year backed by MotoNovo Finance and will provide a new entry into the competitive aggregator website market. As part of its development, the site will use all dealer income to build its brand and have standard pricing for dealers of all sizes.

Chatbots, interactive video and the changing customer experience in focus at IAFN Conference

Improving the customer experience is a key goal throughout the auto finance process, particularly as buyers become more focused on digital services. Customers are getting younger, more demanding and more willing to walk away or use online searches to find what they want. For dealerships and finance lenders, that means it is becoming a battle to gain and keep the attention of a potential buyer. At the International Auto Finance Network conference, which takes place on January 26, 2018, at the London Hilton Tower Bridge, expert speakers from the fintech sector will look at how technology can be used to improve customer touchpoints.

Chatbots, interactive video and the changing customer experience in focus at IAFN Conference

Dec 15, 2017

Improving the customer experience is a key goal throughout the auto finance process, particularly as buyers become more focused on digital services. Customers are getting younger, more demanding and more willing to walk away or use online searches to find what they want. For dealerships and finance lenders, that means it is becoming a battle to gain and keep the attention of a potential buyer. At the International Auto Finance Network conference, which takes place on January 26, 2018, at the London Hilton Tower Bridge, expert speakers from the fintech sector will look at how technology can be used to improve customer touchpoints.

Volkswagen Financial Services expects record 2017 earnings

Volkswagen Financial Services will break records in its 2017 financial year as it expects to beat last year’s earnings high of €2.1 billion. According to provisional figures, the portfolio of current contracts will have increased by more than 8% to nearly 20 million this year, compared to 18.2 million in 2016.

Volkswagen Financial Services expects record 2017 earnings

Dec 14, 2017

Volkswagen Financial Services will break records in its 2017 financial year as it expects to beat last year’s earnings high of €2.1 billion. According to provisional figures, the portfolio of current contracts will have increased by more than 8% to nearly 20 million this year, compared to 18.2 million in 2016.

EMEA

Georg Bauer to report on progress of fair.com at IAFN Conference

Dec 11, 2017

Georg Bauer will report on the progress of fintech start-up fair.com, a business he co-founded this year with TrueCar pioneer Scott Painter. Bauer will be speaking at the International Auto Finance Network conference in January 2018 in London. Fair.com’s business model has grown out of the founders’ belief that modern consumers find problems with the current car buying process. Confrontational experiences with dealership salespeople and the long-term commitments required for purchases, leases and loan agreements are all out of step with purchasing patterns in most other sectors, where consumers increasingly favour pay on use and subscription arrangements, they argue.

Americas

Auto lending “strong and stable”

Dec 15, 2017

Experian is countering industry predictions of an imminent auto finance crisis with new research showing the market is gaining strength and stability, with sub-prime originations at a record low. According to Experian’s latest State of the Automotive Finance Market report, prime consumers grabbed the lion’s share of the total finance market (40.9%), while super-prime buyers showed the largest increase, reaching 20.16% market share.

Asia Pacific

Volkswagen Financial Services Australia pays penalty for misleading finance ads

Nov 30, 2017

Volkswagen Financial Services Australia (VWFSA) has paid a penalty of AUD$216,000 (US$163,000) after the Australian Securities and Investments Commission (ASIC) issued infringement notices for alleged misleading advertising statements. The penalty related to VWSA’s ‘1% you can’t ignore’ advertising campaign, with ASIC issuing 20 infringement notices in total.