1000 dealers switch to MotoRate in the first 50 days
On June 24th, we launched the first risk-based pricing model, MotoRate following a successful pilot of over 200 dealers. By August 12th, 1000 dealers had already switched to MotoRate. CEO, Mark Standish shares his delight on the impact it's having...
Read articleCBILS loan support set to end - don't miss out
The British Business Bank has confirmed that applications for the Coronavirus Business Interruption Loan Scheme will close on September 30th. Head of Commercial Finance, Luke Curtis urges dealers to review how CBILS can help benefit their businesses.
Read articleThe new appeal of older used cars
Lockdown has changed a lot, including people's car buying habits. Older used cars are more desirable now than they've ever been as more people are favouring their own set of wheels over public transport. Industry expert, Curtis Hutchinson explains...
5 reasons to get your stock on findandfund
Used car prices have started to stabilise and demand is starting to level out. However, after lockdown, we're seeing a clear shift towards online buying trends and digital browsing. To get more eyes on your stock, findandfund is the place to be...
Read articleMotoNovo leads the changes required by the FCA successfully
By 2021, dealers & brokers will need to comply with new changes set out by the FCA including a ban on discretionary commission models. Our new pricing model ‘MotoRate’ has seen 754 dealers convert to this new approach as Mark Standish CEO observes...
Read articleFCA Motor Finance Review – what’s in it for the customer?
Our Chief Credit & Analytics Officer, Stephan Bothma, explores how the FCA Motor Finance Review has paved the way for MotoRate and an improved, more transparent customer experience.
After lockdown: reasons for optimism in the bike community
In March, the Gov announced the Plug-in MotorCycle Grant which will pay for 20% of the purchase price of qualifying zero-emissions motorcycles. Julian Oliver, National Motorcycle Manager shows his optimism for the biking world post lockdown…
Reinvention of finance has seen penetration increase 40%
MotoNovo has launched a new approach to finance that has seen a large pilot group of over 100 dealers increase their finance penetration by 40%. Deputy CEO, Karl Werner, talks about the new MotoRate risk-based pricing model...
Read articleMotoRate - 21st century dealer finance
Personal finance trends are changing, and digitisation and regulation are at the heart of it. Deputy CEO, Karl Werner looks into the changing market and a need for modernised finance with our new product - MotoRate.
How to increase your finance pen by 40%
We’ve been working to fundamentally change the dealer finance model and our new risk-based pricing model is customer, dealer and regulation friendly. You could increase your finance pen by 40% with MotoRate as some of our pilot dealers did...
Read articleHow MotoRate can benefit the customer
MotoRate has been designed to be good for the dealer, lender and customer. Our aim is to bring dealer finance to the forefront of the market, delivering a good customer outcome every time. We've outlined some of the benefits for customers...
Top 5 reasons MotoRate is the key to Covid-19 recovery
MotoRate is a unique, risk based pricing approach that addresses many industry concerns. It’s a step in the right direction for dealer finance by benefiting the customer, dealer and lender. Here's how it could work for your dealership...
