Monday, January 21, 2008
Credit crunch can open up new opportunities
Despite poor market conditions in 2007 – pressures from the credit crunch, the demise of Northern Rock and falling house prices – Black Horse remains optimistic about 2008 and the future of the point of sale market.
As direct and traditional lenders start to trim back their finance offers, there will be more opportunities for dealers to regain market share, and offer appropriately priced loans to a wider range of customers. That’s why Black Horse will continue to develop and launch initiatives like AutoRate Plus during 2008.
This new risk-based pricing approach to selling finance is expected to deliver more profit for dealers and offer them the flexibility to submit proposals for all their customers and have more finance deals underwritten.
The credit crunch will continue to have an impact on the availability and choice of finance/credit on the high street. Consumers will no longer be able to take “easy credit” for granted. This may find them looking to other sources.
DATED: 21.01.08
FEED: John Woolley, BHMF Managing Director
As direct and traditional lenders start to trim back their finance offers, there will be more opportunities for dealers to regain market share, and offer appropriately priced loans to a wider range of customers. That’s why Black Horse will continue to develop and launch initiatives like AutoRate Plus during 2008.
This new risk-based pricing approach to selling finance is expected to deliver more profit for dealers and offer them the flexibility to submit proposals for all their customers and have more finance deals underwritten.
The credit crunch will continue to have an impact on the availability and choice of finance/credit on the high street. Consumers will no longer be able to take “easy credit” for granted. This may find them looking to other sources.
DATED: 21.01.08
FEED: John Woolley, BHMF Managing Director
