Fundamental rethinking of point-of-sale motor finance is needed so that dealers can reclaim their lost independence

Fundamental rethinking of point-of-sale motor finance is needed so that dealers can reclaim their lost independence, says Peter Cooke, University of Buckingham professor of automotive management, in a comprehensive study published this month.

Prof Cooke goes further in his review of the reasons for the decline in POS finance, brought about mainly by the growth and aggressive promotion of alternative methods of funding.

In the report, commissioned by Black Horse Finance, he says: “There is also a real risk that finance may increasingly come under the direct control of the car manufacturers’ finance houses, with their objective of selling their own cars, and of banks and building societies, where the agenda is lending finance rather than tailoring a loan to satisfy a would-be car buyer’s exact requirements.” read more

source : http://www.am-online.com/