Startline Motor Finance has reported that since the start of 2017, the company has seen a 25% increase in the number of major dealer groups with which it works.
Paul Burgess, CEO at Startline, said: “The design of our motor finance product and the way that it fits into a dealer’s lender panel means that it is really designed for larger franchise groups and car supermarkets.
“We are having a concerted push into the top 200 groups across the UK. We find that if we can get in front of decision makers, they immediately see the value of our proposition. The trick is to get that seat and we tend to do it in a very direct way – by approaching the senior management on a director-to-director basis.”
Paul added that dealer groups are having another look at their finance provisions amid the changing market conditions, especially with regard to examining the lenders making up their panel.
He concluded: “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. While many of these car buyers may not meet traditional lending criteria in a manner that a prime lender would want, a detailed look often reveals them to be a sound risk.”
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