High-end car finance broker Oracle Finance has increased its sales staff from 24 to 36 employees in response to "the continued demand for prestige and super cars".
Peter Brook, managing director at Oracle, said the increase was "a direct result of the sheer number of enquiries we are handling combined with repeat business from our existing customers".
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Following a record October and a 20% increase in business, according to a statement by the company, Oracle estimated it is writing £250m of funding a year.
In September, the company reported the best-ever quarter in its seven-year history and, in July, said there was "notable growth" of its Range Rover finance package.
Strength in numbers
Brook added the strength of the luxury car market had continued despite the recession, as noted in 2012 by fellow broker Tim Marlow, then owner of luxury motor intermediary Bridford Financial Solutions.
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By GlobalDataSince then, the withdrawal of ING Car Lease as a wholesale funder has seen Marlow’s operation merge with broker DSG Financial with the launch of Magnitude Finance, using "a wide range of lenders".
Likewise, Brook attributed the success of Oracle to its work with 15 lenders, "all with their own specialist niche", in addition to lending its own money.
