BNP Paribas Personal Finance UK has launched a motor finance solution positioning the company as a driving force for change.
Part of global bank BNP Paribas, has a wealth of motor finance experience globally, and currently works with 1800 dealers in over 11 countries, as well as partnering across a network of 16 manufacturers.
Its new solution will offer a wide range of auto financing products including Hire Purchase, personal loans, stock financing, personal contract purchase, personal contract hire and value-added products.
Andrew Brameld, Managing Director, said: “We have built a suite of products that will provide our partners with helpful and responsible finance solutions. This is a great opportunity to establish ourselves within the £32bn UK car finance sector and further grow BNP Paribas’ footprint within the automotive market.”
The launch of the UK motor finance solution follows BNP Paribas’ acquisition of Opel Vauxhall Finance (OVF) and its announcement in February of a strategic plan to support the growth of OVF competitive automotive finance solutions across Europe.
Headquartered in Solihull, the consumer finance business aims to double in size by 2020 and as part of its strategy plans to expand into the motor finance market. This will include the creation of new job opportunities, adding OEM (Manufacturer) and extending its network.