Santander Consumer Finance (SCF) is launching a wholesale finance facility for selected dealers at auction group Aston Barclay. The facility enables dealers to purchase stock at Aston Barclay’s six auction centres in person or online and then charge the cost to their wholesale facility with Santander. Santander agreed a long-term remarketing contract with Aston Barclay… Continue reading Santander provides wholesale finance for dealers at Aston Barclay
Author: Motor Trader Online News
Dealers urged to prepare workshops for record influx of MoTs
Franchised dealers have been urged to gear up workshops for record number of over 2.6 million cars due their first MoT over the next 12 months or risk losing it to independents and fast fits. This warning comes from Coachworks Consulting as the sector faces an influx of three year old cars first registered in… Continue reading Dealers urged to prepare workshops for record influx of MoTs
Mini recognises top dealers at annual retailer awards
Mini has recognized its top performing dealer at the annual retailer awards ceremony. Cotswold Mini Cheltenham was presented with the ‘Retailer of The Year’ award after demonstrating excellence across 13 separate criteria, including new car sales, used car sales, profitability, customer satisfaction and more. Other categories and their winners included Vines Group for retailer marketing,… Continue reading Mini recognises top dealers at annual retailer awards
More dealers see Brexit as biggest threat to their business
The number of dealers who see Brexit as the top threat to their business in 2019 has rocketed as the 29 March exit deadline approaches. The latest quarterly Dealer Satisfaction Survey from Close Brothers found that 35% of dealers see Brexit as the top threat to their business compared to just 21% a year ago.… Continue reading More dealers see Brexit as biggest threat to their business
Aston Barclay launches digital tools to help dealers process used cars
Aston Barclay has launched Cascade, a suite of digital tools to help dealers process used cars. Cascade includes a vehicle appraisal App, which helps dealers to more accurately appraise incoming vehicles using cap used car data or customers’ own pricing data. All data captured, including inspection reports and images, is saved in a back-office platform,… Continue reading Aston Barclay launches digital tools to help dealers process used cars
Dealers must comply with new HMRC VAT digital record rules
Dealers are being urged to ensure they are compliant with the Government’s new Making Tax Digital service, designed to make it easier for businesses to get their tax right and keep on top of their affairs. From 1 April 2019, all VAT-registered businesses with a taxable turnover above the VAT threshold (£85,000) are required to… Continue reading Dealers must comply with new HMRC VAT digital record rules
Jardine pumps £1m into Bury St Edmunds BMW dealership
Jardine Motors Group has pumped £1m into redeveloping its BMW dealership in Bury St Edmunds. The overhaul has seen Jardine install BMWi and M product presentation stands. Three new technicians are being recruited to bring the headcount to 15. Andrew Maund, head of business at Bury St Edmunds, said: “We are very excited to have… Continue reading Jardine pumps £1m into Bury St Edmunds BMW dealership
Dealers see surge in used cars sold on finance over past year
The UK has seen a surge in used cars sold on finance over the past year. According to the latest figures from the Finance & Leasing Association the number of used cars sold on dealer finance in the 12 months to November rose 7% to 1,454,568 while their value surged 13% to £17.5bn. The number… Continue reading Dealers see surge in used cars sold on finance over past year
Used car values to ‘flatline’ in 2019 following surge last year
Used car prices are expected to ‘flatline’ in 2019 following the surge in values experienced in 2018. Average used petrol prices rose 15.5% and by nearly £1,400 to £10,370 during 2018 according to analysis of used cars sold online by Autorola UK. Petrol cars started 2018 in Q1 at £8,978 and rose to £10,370 in… Continue reading Used car values to ‘flatline’ in 2019 following surge last year
WLTP causes ‘wide variance’ in dealers’ financial performance
The new WLTP rules impacted that came into force in Q3 impacted the market in November with wide variances in performance between franchises. According to dealer profitability specialist ASE November 2017 was a poor month, with retailers clocking up record losses as they coped with the cooling market. “This has not been replicated in 2018,… Continue reading WLTP causes ‘wide variance’ in dealers’ financial performance