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Economic slowdown 'will not stop market growth'

On:line Finance is predicting more than 400,000 new cars will be sold in September - and expects used car sales to be double that - bucking the trend of economic slowdown.

The company, which provides financial services to used vehicle dealers, is predicting a bumper month for used car sales and has launched a new service, Tiered Pricing, to allow dealers to capitalise on this.

"I expect around 400,000 new cars will be sold in September and used-vehicles usually move at a ratio of 2:1 compared to new cars, so we could be looking at nearly one million used-vehicles sold in September," said Arnie Iversen, On:Line Finance's sales and marketing director.

"We are expecting a very buoyant used-car market from now until December, and Tiered Pricing will provide dealers with a mechanism to capitalise on this, sell more cars and make more money."

Tiered Pricing provides five tailored vehicle finance packages that are aimed at different sectors of the buying public, from low credit-risk, affluent buyers to high credit-risk drivers who could find it difficult to secure a loan.

The service is backed by On:line Finance's 'deal and deliver' policy which enables dealers to get a suitable finance package, complete the transaction and enable the customer to drive the car away in just 30 minutes.

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