The buyer shift to used cars
Since dealerships reopened their doors, demand for used cars has sky rocketed. From revenge buyers to those wanting to avoid public transport, dealers will need to stay on top of their stock to keep up with this pent-up demand...
The opportunity of embracing FCA mandated pricing changes
Reflecting upon the changes ahead stated in the FCA Policy Statement, Deputy CEO Karl Werner is clear that lenders and dealers have a duty to protect car buyers and the broader dealer finance industry...
Read articleNew FCA rules - what is it, what does it mean
The FCA announced its ban on all discretionary commission models that will come into play from January 28th, but it's not the only change that the FCA announcement will create. Industry expert, Debbie Kirlew explains...
Read articleThe art of remote communication - the great coronavirus lesson
Throughout the pandemic, online platforms have been a lifeline for dealers to continue communicating with customers. Industry expert, Debbie Kirlew sums up how this digital transformation in automotive retail has been a long time coming…
Read article1000 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...
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