Last year saw considerable growth in motor finance with a record number of new car sales and an increase in used car finance. Yet, the market is at a turning point.
The Financial Conduct Authority (FCA) has recently led industry changes. As a result, a number of smaller brokers have decided not to go through the new application process; deciding to exit. This shakeup has created new opportunities for new lenders looking to enter the market. For this changing landscape, technology is key.