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Economic Insights – June 2018

This is the first in our new series of quarterly economic overviews, designed to provide a snapshot of some of the key economic-data statistics, including house-buying data and personal-loan rates. All of these help to shape consumer confidence and we hope will enable you to adapt your marketing to sell more cars and to make the most of the undoubted opportunity to use finance in that marketing.

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The door for change is knocking, are we ready to open it?

During April and May, independent research commissioned by Mann Island was undertaken to assess the subjective opinions of motor retailers right across the UK, about dealer finance today. Certainly, many themes such as the desire for rapid underwriting and high acceptance levels came through loud and clear – and yes, they remain vital priorities across our business, but there were some other interesting insights that I’d like to share.

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Bring on those Millennials

I read with sadness that millennials could sound the death knell for car retailing as we know it. They are less likely to buy a car than previous generations and want to buy online are popular generalisms. I’m less sure of these factors. I happen to believe that they simply want a different car and F&I buying experience.

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