Santander Consumer Finance, the motor finance operation of the Spanish bank, has said it will not concentrate on rates and terms to make the most of its penetration into motorcycle finance.

Santander currently provides finance for Austria-based bike brand KTM in the UK, for which Paul Munns, motorcycle finance development manager at Santander Consumer Finance, has said penetration on new bike registrations is "quite high".

However, Munns told Motor Finance the variations in penetration on used bikes, plus the lag of motorcycle dealers’ finance appreciation relative to car dealers’, put the rate at "anything between 19% and 25%", meaning "there’s a lot of scope for improvement".

‘An integral part’

Santander Consumer finance already holds a comparatively mature motorcycle finance network across continental Europe, as well as UK vehicle finance experience ranging from a partnership with RAC to supporting Vauxhall’s Network Q used-car dealerships and running a joint venture with Hyundai UK.

Munns is confident such experience can be applied to motorcycle finance in the UK, and said the company is "a ‘value-added’ service to the dealer network in terms of our professional account managers, assistance with training and development and the products we continue to develop".

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Munns added the company was "not just set on rates and terms", explaining the working model in cars, which is being applied to bikes, "is to work closely with the dealers that want our support" and that "finance needs to be seen as an integral part of the sales process".

A full interview with Paul Munns will be published in the May issue of Motor Finance magazine.