Tag Archives: startline

More needs to be done to meet the requirements of diverse groups of used car buyers, says Startline. The company has claimed that more products are needed to accelerate the motor finance sector towards providing a spectrum of options that meet the needs of customers at all points of the market. These changes include adding near prime options because the ...

Consumer perception of the motor finance industry is more positive than that of dealers. Research from Startline Motor Finance shows that when asked to compare motor finance to other retail sectors in a traditional store-based setting, 39.6% of consumers placed motor finance a long way ahead or slightly ahead of other retail sectors compared to 26.3% of dealers. Only 23.8% of ...

Used car dealers view electric vehicles as the biggest challenge facing them in the future. According to research by Startline Motor Finance EVs were named as a concern by 37.7% of dealers, compared to compliance (18.9%), negative equity in diesel cars (13.2%), consumer expectations (11.3%) and the impact of revised commission structures (7.5%). Also, 13.2% of dealers said they simply ...

A “clicks and mortar” dealership model appears set to dominate used car retail in the immediate future. New research for Startline Motor Finance indicates that although 64.3% of dealers plan to invest in online finance in the next 12 months, 84.2% of dealers believe it is important that the customer visits their showroom. Similarly, 55.3% of consumers said they would ...

Flexible motor finance to become significantly more important as a product in the event of a hard Brexit in October, says Startline Motor Finance. Paul Burgess, CEO at Startline, highlighted that with the economy already at high risk of a recession, consumer confidence likely to be adversely affected and range of other negative effects, there is a strong chance that ...

More franchise dealers are rethinking their motor finance lending panels according to Startline. This is caused by a continuing shift away from new to used car sales, leading dealers to construct more flexible lending panels that meet the needs of a wider range of vehicles and customers. Paul Burgess, CEO of Startline, said: “We have definitely seen numerous franchise groups ...

Prime lenders appear to be tightening their lending rules says Startline. This comes at a point in time when used car retailers need greater flexibility from their motor finance, as lenders respond to an economy that is “starting to stall”, acco4rding to Startline CEO Paul Burgess. “In many ways, this is to be expected. Motor finance is a risk versus ...

Startline Motor Finance is claiming a big success with its new ‘flexible’ PCP product. The finance firm said that half of all the business it writes with TrustFord Now uses product, just six months after its launch. It is offered by Trust Ford dealerships and designed as an alternative source of funding when applicants are declined by more traditional prime lenders. Startline said it ...

Startline has launched a PCP for used car buyers who have been declined finance from prime finance provider. It said the product is being trialled by unspecified dealer groups. Startline said the product can be offered by dealers alongside used PCPs from traditional prime lenders and suggested as “an alternative source” of funding when applicants are declined. According to the ...

Startline Motor Finance has secured a new £250m credit facility from major financial institution JP Morgan. The Glasgow-based company, which specialises in near prime dealer finance across the prime and sub prime sectors, said the credit facility would help increase its penetration of the UK’s top 200 groups. “We have been talking to several major financial institutions for some time ...