CarMoney, a UK provider of motor finance, has posted an increase in activity in the first quarter of 2022 compared to the same period last year.

The company oversaw £35.77m of loans made to customers in the three months to 31 March 2022 compared to £17.87m in the same period last year.

Go deeper with GlobalData

Premium Insights

The gold standard of business intelligence.

Find out more

The company, which added 300 new dealers to its network in 2021, said the figures reflect the sale of 3949 vehicles in the quarter, compared to 2461 in the previous year.

CarMoney’s managing director, Alastair Grier, said: “We continue to disrupt the market across the UK by applying technology to take away the discomfort of buying a car through helping customers smoothly navigate their way through the process, all the way from choosing the right vehicle from a respected dealer, to putting the best finance package in place.

“Most recently, we have been pushing hard to help customers to finance electric cars and have partnered with ZoomEV, the electric vehicle sharing platform which brings together electric vehicles and sharing economies to combat climate change.

“As to changing customer behaviours, we have noticed more and more customers applying for finance before looking specifically at cars in their quest to clarify the monthly payments and how much they can afford to borrow. This may be an early manifestation of a developing cost of living awareness but it is still early days.”

How well do you really know your competitors?

Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.

Company Profile – free sample

Thank you!

Your download email will arrive shortly

Not ready to buy yet? Download a free sample

We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form

By GlobalData
Visit our Privacy Policy for more information about our services, how we may use, process and share your personal data, including information of your rights in respect of your personal data and how you can unsubscribe from future marketing communications. Our services are intended for corporate subscribers and you warrant that the email address submitted is your corporate email address.

CarMoney provides car finance to customers who can take possession of their new vehicles via home delivery or click and collect wherever possible. This is facilitated by a UK-wide network of dealers, while setting best in class processes to keep guests and colleagues Covid safe.

UK fleet managers confused over new EV charging rules