One third (34%) of British consumers expect car dealers to earn commission on vehicles bought on finance, and a further 28% don’t mind so long as they’re informed, according to new research from Close Brothers Motor Finance. This news comes as the FCA introduces new regulation for the motor finance industry, which comes into force on 28 January. The changes include banning pricing models which … [Read more...]
Car dealers want Government support after Covid-19
Car dealers want Government support for motor industry following Covid-19. A quarter (25%) of car dealers are keen to see a reduction in business rates as the UK recovers from the impact of Covid-19, one in five (19%) want to see current support measures phased out, rather than a hard stop and others are calling for motor-specific policies like changes to the diesel/petrol ban and support for … [Read more...]
Filling stations win rates reprieve bonanza
Filling stations are in for a summer bonanza with repaid business rates after a Supreme Court ruling. The Supreme Court has ruled in favour of retailers, meaning that they will now be rightly owed around £500 million in business rates refunds, said Brian Madderson, Chairman of the Petrol Retailers Association. He was speaking after the Supreme Court’s unanimous decision on wednesday that ATMs … [Read more...]
Premiums continue to fall despite IPT hike
Average premiums have continued to fall in the third quarter of 2019 indicating a trend of reducing premiums, according to the latest Premium Drivers report from comparethemarket.com. While premiums have historically fluctuated throughout the year, average premiums are now markedly lower than the same time last year. In Q3 2018, average premiums were £732. Premiums have now fallen to £707 in Q3 … [Read more...]