Money talks, but should it?
18 January 2016
The views of Black Horse chief Richard Jones on the subject of the captive finance house model as reported in Agenda are, Im guessing, likely to resonate with many in the auto retail industry. His take on the influence exerted by car makers is not one youd be wise to easily dismiss.
Its fair to say that the auto retail business is a complex one, and that observation is also true of the relationship between retailer and car manufacturer. The image projected to the buying public is one of trying to deliver the best experience at the best price. The notion that retailers are under considerable pressure to offer potentially less than competitive financial products is unlikely to instil confidence in consumers.
Plus, with so much financial information readily available in the public domain, buyers increasingly have already conducted their research and know exactly what they want, from a cars specification to the optimum payment plan. If you cant deliver on the latter they are likely to walk. Result: no deal. That scenario benefits absolutely no one, and one that should convince even the most blinkered car maker to reassess its policy regarding the use of in-house financial products.
Auto Retail Network