Creditplus News

Welcome to the Creditplus news page.  We are committed to our ethical lending policy and want to be as open and transparent about our company as possible.  Here you will find the latest company news and updates as Creditplus continues to grow and expand.

Dealerplus - The Finance Solution All Dealers Should Have

By Jack Clarke | Thursday, January 19, 2017

According to Trevor Mather, Chief Executive of Auto Trader, it is predicted that the greatest threat to dealers in 2017 is likely to come from direct sales by manufacturers. Mather believes that; “Cutting the dealer out of the equation to such an extent would reduce their requirement to advertise and...

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Independents become online finance growth area

By Jack Clarke | Monday, January 16, 2017

According to recent studies, independent dealers have the potential to become the growth area for online motor finance in 2017. Research carried out by iVendi has discovered that around 65% of the top 200 dealer groups in the UK had their own motor finance solutions in place, with about 30%...

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The rise of the internet and its positive impact on online businesses

By Emma Sutherland | Friday, November 25, 2016

In a constantly changing buying market, the internet has made the biggest impact on consumers’ purchasing habits over the last decade. For a business such as Creditplus, the increased use of the internet by consumers searching for both cars and suitable finance products has seen their place in the used...

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Three quarters of new car customers do not wait for new registration plates

By Jack Clarke | Thursday, November 24, 2016

Recently obtained data suggests that three out of four consumers do not see the point in waiting for new registration plates when looking to purchase a new car. The results indicate that the periodic increases in new car registration activity in the months of March and September is a...

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FCA regulations: The importance of them to you and your customers

By Jack Clarke | Wednesday, November 23, 2016

In April 2014, the Financial Conduct Authority (FCA) took control of the regulation of consumer credit in the UK. This resulted in around 50,000 businesses offering consumer credit in the UK finding themselves under the authority of the FCA’s consumer protection rules and regulations....

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Consistently high need for used cars is positive news for the UK car industry

By Emma Sutherland | Monday, November 21, 2016

A recent report has shown that the need for used cars is consistently high, despite a potential rise in inflation and apprehension around residual values....

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Electric Vehicles: The new go-to company car?

By Emma Sutherland | Friday, November 18, 2016

New research into the ownership of electric vehicles (EVs) has revealed that approximately 700,000 UK drivers would choose one if they were offered as a company car by their employer. This figure is significant, given that only a quarter of UK businesses currently have EVs as an option for their...

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PCP finance agreements: The importance of customer understanding

By Jack Clarke | Wednesday, November 16, 2016

A recent survey has found that 37% of 4,000 motorists replaced their cars far more often than they would have done a decade ago, citing attractive finance deals as a strong motivating factor....

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Competition between online car finance providers and dealers set to increase

By Jack Clarke | Friday, November 11, 2016

It is predicted that dealers across the UK will face increased competition from online car finance providers in 2017. As consumers grow in online confidence, and continue to shop around to obtain the best deals for their needs and circumstances, the competition for dealers is set to rise. With online...

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Know Your Customer: Why it is vital to any finance business

By Emma Sutherland | Thursday, November 3, 2016

Any finance company knows that ensuring the correct financial agreement is in place for a customer is paramount to the success of their business. The focus placed on this by Creditplus is something which has assisted in them becoming and retaining the title of the UK’s leading online car finance...

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Autonomous vehicles: Who pays for the incidents and accidents?

By Emma Sutherland | Thursday, November 3, 2016

We recently wrote an article on the ever-expanding production and development of autonomous vehicles. While we recognised that they are set to become one of man’s biggest technological advancements, it did prompt us to ask a question: if an autonomous car is involved in an accident, who is ultimately responsible?...

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Increased sales following new FCA rules on GAP insurance

By Emma Sutherland | Wednesday, November 2, 2016

In the 12 months since the FCA introduced new rules on the sale of GAP insurance, product sales have increased and helped consumers to think about quality first, a recent report has found. Originally met with some uncertainty about what the new regulations would mean, the last year has proved...

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Car buying decisions unaffected despite Brexit

By Jack Clarke | Tuesday, November 1, 2016

A recent survey of more than 320 consumers found that approximately 70% were unaffected in their car buying decision following the result of the summer’s EU referendum vote. It was also reported that approximately 73% of the survey respondents had not changed their mind on when they were planning to...

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‘Soft’ credit search puts Creditplus ahead of the curve

By Jack Clarke | Friday, October 28, 2016

As consumers increasingly choose to ‘shop around’ on the internet, there is a growing concern that this is affecting consumers’ credit scores when applying for credit. This has resulted in a demand for companies to develop new methods. Ahead of the trend though is Creditplus, the UK’s leading car finance...

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UK commute congestion: How much time are we losing and why?

By Jack Clarke | Thursday, October 27, 2016

Congestion in the UK has risen by 40% during the last four years, according to investigations. And as a result, drivers commuting around cities in Britain are spending an increased amount of time sat in traffic. The study by leading traffic intelligence provider Inrix indicate that London is in fact...

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Electric vehicles up the pace over hybrids

By Jack Carke | Thursday, October 27, 2016

Recently obtained data has suggested that in the coming years, the enhanced development and use of electric vehicles (EVs) will supersede that of hybrid vehicles. As technology continues to advance at speed - as well as an increased awareness of finite natural resources available to feed the endless needs of...

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Autonomous vehicles: Will traditional driving become obsolete?

By Andy Smith | Wednesday, October 26, 2016

Looking back to this century and the one prior, with all its technological advancements, there may be one archaic practice that will seem barely believable to future generations. Did they actually drive their cars themselves? OMG! (or whatever its future cultural acronym happens to be)....

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Keep on moving: Why logistics teams are essential to the UK car industry

By Jack Clarke | Tuesday, October 25, 2016

The work carried out by the UK car industry’s logistics teams is something which requires more publicising, according to a recent finding. Reported as being the ‘ghosts of the motor industry’, it is also recognised that without them, the millions of units they are responsible for moving each year would...

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Creditplus celebrate 4% increase in excellent customer service reviews

By Jack Clarke | Monday, October 24, 2016

Recent research into consumer buying behaviour has shown that customer reviews significantly influence purchasing decisions. This research has been proved correct by Creditplus, as they have seen a 4% increase in their five star reviews through the highly credited review platform, Trustpilot. With a Trustpilot score of 9.2 out of...

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BMW Australia Finance’s irresponsible lending activities uncovered

By Jack Clarke | Friday, October 21, 2016

BMW Australia Finance has recently come under fire following exposure of irresponsible lending to customers. A report disclosed that the company had been lending money to customers who had a zero, and sometimes negative, disposable income. One specific case revealed that BMW Finance Australia provided a loan of $27,000 (£15,...

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Post-Brexit increase in short term lending opportunities

By Emma Sutherland | Friday, October 21, 2016

The result of the summer’s EU referendum vote could be a significant opportunity for car finance providers to increase their application and conversion rates, according to a recent analysis report. With Brexit having no apparent impact on the UK’s used car market loan applications, a recent industry report has shown...

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PCP Deals | Why is this car finance option becoming so popular?

By David Penman | Thursday, October 20, 2016

As the leading ethical car finance provider in the UK, Creditplus offer customers a finance solution that suits their individual needs. Three of our most popular options are Personal Contract Purchase (PCP), Hire Purchase (HP) and Lease Purchase (LP), with PCP still remaining the favoured choice of consumers. Creditplus first...

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Online car sales | Why we still need a human touch

By Emma Sutherland | Thursday, October 20, 2016

Big names in the world of commerce are big for, normally, good reasons. Virgin? Good at selling holidays. Google? Good at finding answers to every question ever asked and recorded by man. Tesco? Good at selling food, drink and more recently, mobile phone coverage (sorry Virgin). What, however, these names...

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Consumer trust predicted to improve following Vehicle Sales Code implementation

By Jack Clarke | Thursday, October 20, 2016

The recent implementation of the Consumer Rights Act and ADR legislation has seen the new Vehicle Sales Code being actioned for the automotive industry by Motor Codes. Established in 2008, Motor Codes provide codes of practice to the UK automotive sector. The Vehicle Sales Code - which covers nine areas...

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Car finance lending panel report 82% of consumers taking out car loans

By Emma Sutherland | Monday, October 17, 2016

Recent statistics from a panel of lenders has shown that 82% of consumers are taking out car loans, according to Creditplus. Creditplus, the UK’s leading online car finance provider, work with a panel of more than 90 lending options, enabling them to provide car finance options to consumers from across...

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UK car dealers losing out on potential business due to lack of online product offerings

By Jack Clarke | Monday, October 17, 2016

Dealers across the UK are losing out on potential business due to their lack of online motor finance product offerings, something which online car finance provider Creditplus have successfully managed to build on during the first nine months of 2016. The findings - reported by dealer solutions provider iVendi -...

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Why car checks are essential before buying a used car

By David Penman | Friday, October 14, 2016

1 in 4 of the 30 million cars in the UK have a hidden past, according to recent findings by Mycarcheck. When you consider that a car purchase is the second biggest that people make second only to buying a property, you would think it’s a no-brainer to get a...

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Positive post-Brexit stability increase online car finance applications

By Jack Clarke | Friday, October 14, 2016

The 29% increase in online car finance applications for Creditplus during the first nine months of 2016 could be partly attributed to consistently low Bank of England rates and increasingly positive post-Brexit stability, according to the car finance provider....

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Used car sales demand on track to report record numbers this year

By Emma Sutherland | Friday, October 14, 2016

The continued growth in consumers searching for used cars in 2016 could see the industry reporting record sales figures for the end of the year. A prediction - reported by Cap HPI - is that the sale of used cars this year will reach approximately 7.6m, a 3 percent increase...

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Creditplus launch Car Finance Options tool

By Creditplus | Saturday, July 16, 2016

Creditplus launch Car Finance Options tool Creditplus are pleased to announce the launch of a new tool to help consumers get a better idea of what car finance options suits their needs. Developed in house, the new tool takes under 30 seconds to complete and acts as a handy introduction to the potentially confusing subject of...

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Interest Free Cars

By Creditplus

When shopping around online for a new car, you may have seen interest free cars being advertised. These 0 car finance deals are very attractive – paying absolutely no interest on your finance package is certainly tempting. But are these deals too good to be true?...

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