Automotive Management Live
November 12th 2020
NEC, Birmingham

Motor Finance Theatre

Back by popular demand was the Automotive Management Live Finance theatre, sponsored by MotoNovo Finance, which brought together inspiring keynote speakers from the field of motor finance.

Three expert speakers explored the latest insights and developments including discussing the latest news from the Financial Conduct Authority’s (FCA) review of motor finance.

It explored the impact of the FCA's review of motor finance and the effects it could have on car dealerships.

AM LIVE’s F&I Theatre featured in our 2016 and 2017 shows and whilst FCA compliance has been an on-going concern for retailers, the regulator’s renewed focus is creating some disquiet in the sector.


2019 Speakers Included:


  • Ben Standish, Product Owner/Triple Win Business Lead, MotoNovo Finance

  • Robin Penfold, Partner, TLT LLP

  • Neil Smith, Business Operations Director, Imperial Car Supermarkets


Key topics in the FCA’s spotlight included:-


The finance provider’s point of view

Ben Standish, Product Owner/Triple Win Business Lead, MotoNovo Finance

Following the FCA’s publication of its review of motor finance in March and the subsequent consultation period, the industry is now awaiting the regulator’s announcement and potential changes. Commission arrangements, the supply of sufficient, timely and transparent information, affordability assessments and lender oversight of brokers/dealers were all identified within the consultation’s scope. MotoNovo has a strong track-record in helping dealers to navigate their way through regulatory change. This session explores how dealers can prepare for what could be significant regulatory change. Whilst continuing to view finance as an opportunity for dealers, especially in used vehicles, Standish notes the model for car sales and financing is set to evolve although it should be seen as the ‘a triple win’ for dealers, customers and finance providers.


Understanding the FCA Review

Robin Penfold, Partner, TLT LLP

Exploring the FCA’s review of motor finance, this presentation aims to provide dealers with the essential insights needed to understand its essence. Areas the FCA highlighted of particular concern will be the focus of the session such as broker commission, information disclosure and affordability including its wide-ranging definition of vulnerable customers. This is considered against the backdrop of the FCA’s annual report which revealed financial penalties had rocketed from £69.9 million to £227.3m year-on-year and the Lookers investigation.


The dealer’s perspective

Neil Smith, Operations Director, Imperial Car Supermarkets

Imperial Car Supermarkets has grown massively over the past five years, now operating 16 supermarkets across the country and 12 service facilities. The company has been an innovator in the used car market being the first to make all supporting vehicle documents available to view online and the ability to transact from home using its ‘Call, Click and Collect’ service including arranging finance. Here, Smith provides the dealer’s perspective on creating a culture in line with the FCA’s ‘treating customers fairly’ or TCF principles and shares his thoughts on the latest FCA review together with its likely impact and practical implications.