Startline Motor Finance saw new business increase by 60% year-on-year in January 2017, reaching a record result.
Proposals to used car buyers also increased, rising 55%. Chief executive officer Paul Burgess, said: “We’ve had a really strong start to the year thanks to a number of factors.
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“Most notably, we have seen more dealer groups become aware of our flexible prime proposition and start to use us for motor finance.”
Burgess also said that he believed that a growing awareness among dealer groups encouraged them to look at the lenders in their panel.
He added: “We believe that there is an increasing realisation in the motor finance sector that a more traditional approach to lending is no longer meeting the needs of a large number of car buyers because of changes in factors such as employment patterns and home ownership.
“That is why a new generation of lenders, such as ourselves, are making significant inroads into dealer motor finance by positioning ourselves as a valuable add-on to the dealer panel, a more flexible kind of prime lender.”
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