Wholesale funding provider NextGear Capital has streamlined its application process to make it easier and faster for smaller independent dealers applying for a £50,000 facility. NextGear Capital’s Stocking Plan, for example, funds 100% of the hammer price/CAP clean plus auction and delivery fees and allows instant confirmed payment at 70+ auction and wholesale partners. Managing… Continue reading NextGear Capital simplifies application process for independent dealers
Author: Motor Trader Online News
Auto Trader launches EV hub to help dealers track EV market
Auto Trader launched today a new industry EV Hub to enable retailers to keep track of the electric vehicle market, It will include the latest used EV retail pricing data and speed of sale, as well as new and used levels of EV supply and demand. According to Auto Trader the hub will provide retailers… Continue reading Auto Trader launches EV hub to help dealers track EV market
BLOG Motor finance market to get more competitive for used car dealers
Dealers should be ready for 2024’s used car finance market to become increasingly competitive, we’re predicting at iVendi. A range of emerging factors mean that larger volumes of used car sales, an ongoing readjustment of vehicle values, and lenders looking to move into new sectors are all likely to have an impact. Our view is… Continue reading BLOG Motor finance market to get more competitive for used car dealers
Global takeover of Lookers gets go ahead from shareholders
The £504m takeover of Lookers by Global Auto Holdings got the go ahead yesterday at a shareholders meeting. Global is paying 130p per share for the company after it revised the offer upwards from 120p, which had been rejected. In June Canadian dealer group Global Auto Group, a sister company of Group Auto Holdings, tabled… Continue reading Global takeover of Lookers gets go ahead from shareholders
Marshall acquires two Honda dealerships from Greenacre
25 Years of Type R – The 2001 Civic Type R (EP3) Marshall Motor Group has acquired two Honda dealerships from Greenacre. Marshall Motor Group now represents Honda in eight locations in the UK: Blackburn, Clitheroe, Harrogate, Hull, Leicester, Peterborough, Reading and York. Carole Merry, franchise director, of Marshall Motor Group, said: “We are delighted… Continue reading Marshall acquires two Honda dealerships from Greenacre
Peter Vardy buys MG dealerships in Aberdeen and Peterhead from Gillanders
SONY DSC The Peter Vardy Group has acquired the MG Aberdeen and Peterhead dealerships from Gillanders. The franchises are the latest addition to the marque portfolio, following the launch in August of two MG dealerships in Edinburgh and Kirkcaldy. Peter Vardy, CEO of the Peter Vardy Group, said: “We are delighted to add MG Aberdeen… Continue reading Peter Vardy buys MG dealerships in Aberdeen and Peterhead from Gillanders
Australian dealers lose agency legal battle with Mercedes-Benz
A legal case brought by 38 car dealers in Australia against Mercedes-Benz has been thrown out by a Federal Court. The dealers brought the case against Mercedes claiming new agency agreements stripped them of the goodwill they had built up over the years. In January 2022 Mercedes-Benz introduced the agency model in Australia where it… Continue reading Australian dealers lose agency legal battle with Mercedes-Benz
Dealers boost sales of warranties and service plans says iVendi
Close up of a car mechanic doing a check list on his clipboard Dealers are selling more value-added products such as warranties, service plans and MOT insurance. That’s the claim from technology group iVendi which said that since the beginning of 2021, the number of motor finance applications made through its platform that include at… Continue reading Dealers boost sales of warranties and service plans says iVendi
Hedin Automotive completes acquisition of Stephen James
Hedin Automotive said today it had completed the acquisition of Stephen James Alliance that was first announced in July. The transaction comprises all operations of the BMW and MINI retailer Stephen James Group, which employs circa 400 people. Following the acquisition, Hedin Mobility Group now represents BMW, MINI, Mercedes-Benz and smart in the UK with… Continue reading Hedin Automotive completes acquisition of Stephen James
What financial technology it can do for dealers and customers
Used car finance interactions between car dealers and customers can feel fraught, with lengthy application processes while lenders search for suitable deals. Purchasers wishing to drive away the same day may become dissatisfied – something advancing financial technology (fintech) can solve, facilitating swift lender decisions that allow dealers to offer competitive finance to more customers.… Continue reading What financial technology it can do for dealers and customers