Tag Archives: startline

Near-prime motor finance providers are continuing to “tread carefully” in terms of pricing and underwriting, reports Startline. According to Startline, companies may even be tightening up their lending criteria further as the pandemic ebbs. Paul Burgess, CEO, said that his company had noted a marked reduction in appetite for lending among several competitors near to the beginning of the crisis ...

The fourth quarter used car market looks likely to set the tone for the 2022 as the sector enters the real post-pandemic economy. The next few months would bring a number of economic headwinds – notably the end of furloughing but there would also be potential benefits, including the easing of the semiconductor shortage. For some time, we have all ...

The average used car financed is now both noticeably older and more expensive than at the start of the pandemic, according to Startline. Comparing figures from May 2020 to May 2021, the average price of a used car for which the company has paid out hire purchase motor finance has grown from £7,837 to £8,699 – representing a rise of 11.0%. Over ...

Making it as easy as possible for consumers to buy and fund them their vehicle key to selling in lockdown, says Startline Motor Finance is advising. The company says that experience from the first two lockdowns, plus the prospect of the national vaccination programme, means that the used car sector can be reasonably confident about its prospects for the next ...

Technology and processes that allow for real-time online decisioning are set to be a key factor for the motor finance sector in 2021. With more and more used car buying activity moving online in the wake of the pandemic, there is increased emphasis on integrating applications into digital processes seamlessly. Like many motor finance companies, we’ve been digitally active through ...

Dealers need to be considering their lending panels to ensure they are fit for the coronavirus era used car market. At the most fundamental level, lending panels are constructed so that dealers have a range of products and credit appetites to suit the profiles of their customers. The question right now is, are those products, credit appetites and customer profiles ...

Few of the lessons that the motor finance sector learnt in the 2008 financial crash will apply to the process of recovering from the coronavirus crisis. There are almost no parallels between the two economic downturns and that the solutions that ultimately proved to be successful this time around would probably prove to be equally different. Many or even most ...

Prime car finance firms continue to tighten their underwriting in a cautious market. That’s the view of Startline Motor Finance CEO Paul Burgess who said lenders were being cautious in uncertain times. “At the top of the market, prime lenders are tightening their underwriting because of a generally cautious attitude towards overall economic prospects and this has a cascade effect ...

The resumption of widespread availability of motor finance will be essential for used car dealers looking to maximise online sales over the coming weeks and months, says Startline Motor Finance. The company expressed the view that even if dealers are retailing just 10-20% of the vehicles that they normally manage then, if you are making money, it is very worthwhile. ...

Not many dealers record sufficient information about their motor finance customers to gain a usefully detailed appreciation of who is buying which products and why, Startline Motor Finance has said. This means that dealers don’t have sufficient information to look at patterns within their motor finance sales and identify opportunities for new approaches, new products and new marketing initiatives. Paul ...