Creditplus News

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...

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%...

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...

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...

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....

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....

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...

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....

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...

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...

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?...

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...

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...

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...

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...

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...

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)....

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...

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...

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,...

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...

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...

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...

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...

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...

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 -...

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...

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....

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...

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...

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?...