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HSBC to sell finance in high street outlets

HSBC Vehicle Finance is to start financing cars through high street branches of its parent bank as part of a strategy to grow contract hire and leasing.

Bank staff will be able to discuss, quote and arrange business vehicle funding, such as contract hire, hire purchase or business loans, with existing customers. Orders placed with HSBC will then be sourced through the company's usual supplying dealers.

The organisation pulled out of point-of-sale customer finance several years ago when it dropped its Forward Trust brand, then run by Swan National.

Kelvin Collins, HSBC Vehicle Finance marketing manager, said: “Our strategy to grow through bank customers has been in place for around 18 months now. The rebranding as HSBC was the first step and it is now really beginning to bear fruit. The majority of bank customers have business vehicles and it is a great opportunity for us.”

The scheme is being piloted in Northampton.

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