Hitachi Capital Motor Finance has joined with retailer Vertu Motors to offer deferred interest free finance.
The ‘Buy Now Pay Later’ 0% deal will allow customers purchasing a vehicle in the final quarter of 2016 the option to make their first payment in April 2017, which Hitachi claims could “revolutionise the market.”
Vertu was formed in 2006 as an amalgamation of many UK motor retail businesses, and currently has 141 dealerships, many of which are run by Bristol Street Motors.
Vertu and Hitachi’s six month deferred interest free finance fee will be offered at all of Vertu’s outlets, and complements its existing five-year 0% deal.
According to Hitachi, the offer will make finance deals simpler to administer, fairer for customers, and more profitable for dealers.
Jonathan Turner, strategic development manager at Hitachi Capital Motor Finance, said: “We are delighted that Vertu Motors Plc have entrusted our team of finance experts to offer this deal, the first of its kind, to motor dealers.
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“Over the coming years I very much look forward to building on our great relationship with Vert Motors Plc to offer more customers than ever before the flexible finance packages they need to help their businesses grow and thrive in the fast-paced motor industry.”