Hitachi Capital Motor Finance has partnered with Vertu Motors to launch a Buy Now Pay Later 0% deal with a six month deferred period for customers.
Hitachi described it as a “revolutionary deal, complementary to Vertu Motors’ current 5 year 0% deal,” in that that customers purchasing a vehicle in the last quarter of 2016 will now have the option to make their first payment in April 2017, six months deferred from the time of purchase.
Hitachi Capital Motor Finance will support Vertu Motors in offering the Buy Now Pay Later 0% deal at its 141 outlets.
The offer is expected to revolutionise the market making finance deals not only simpler to administer and fairer to the customer, but more profitable for dealers too, said the finance firm.
Jonathan Turner, strategic development manager, Hitachi Capital Motor Finance, said: “We are delighted that Vertu Motors have entrusted our team of finance experts to offer this deal, the first of its kind, to motor dealers.
“Over the coming years I very much look forward to building on our great relationship with Vertu Motors to offer more customers than ever before the flexible finance packages they need to help their businesses grow and thrive in the fast-paced motor industry.”
Hitachi Capital Consumer Finance, a subsidiary of Hitachi Capital (UK), provides personal, motor and retail finance solutions to individual and business customers across the UK.
As editor, Tim is responsible for the media content, planning and production of AM's multiple channels (AM print and digital magazines, website, social media and contributing to our events planning). He interviews and writes about as many franchised dealer groups and UK divisions of motor manufacturers as possible, to explore the issues facing UK motor retail and understand what solutions dealers and suppliers are using to overcome these.
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