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Finance Analysis: Positive attitude is first step to recovery

Although 2009 is only a few weeks old, the seasonal festivities of last year already seem like a distant memory.

As dealers are acutely aware, the first quarter of the year is a key time to clinch valuable sales and so businesses must be ready to hit the ground running this month.

Adopting a positive attitude is the first step on the road to financial recovery.

As the UK’s No.1 independent provider for point-of-sale motor finance, Black Horse is very much at the heart of this industry and therefore is also impacted by the changes felt last year.

With the economy as it is, customers are keen to look at alternative forms of credit and it is in the best interests of the industry as a whole that we get a reasonable rate of return, to ensure that suppliers will be here to support the industry in 12 months’ time.

The good news for dealers is that PoS penetration is increasing, which is a reflection of the lack of available credit from direct lenders and the continuing availability and convenience of credit in showrooms.

For the customer there are many reasons to choose finance at the point of purchase, rather than shop elsewhere. Benefits offered by the dealer and Black Horse include easily arranging finance payments via a ‘one-stop-shop’ and the reassurance of dealing with the UK’s market leader, part of the UK’s most trusted bank – a brand they can trust.

Black Horse is committed to this industry for the long term and we continue to actively recruit new dealerships. We are also focused on supporting and helping our existing dealers with stock funding, as well as supporting a high-profile PoS presence in their showrooms. 

If the last year has taught us anything, it’s that no-one – economists and politicians included – can predict with any great deal of certainty what will happen in the months ahead.
All the signs point to the first half of 2009 being pretty tough, but if we take an optimistic approach then hopefully we can lay the foundations for recovery further down the road. 

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