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Geneva debuts to boost loans

Luxury car sales in the UK will grow in 2011, says lender Bridford Financial Solutions, which expects its lending to rise by a third year-on-year to £40 million.

Owner Tim Marlow said loans were higher in the first two months and he predicted further growth because of the new 11-plate.

This increased his confidence in a sharp rise from last year’s loans total of £30m.

He said the prestige car market will be stimulated by debuts at this month’s Geneva show that included the Ferrari FF, Aston Martin Virage, McLaren MP4-12C, Lamborghini LP700-4 and Mercedes-Benz SLS AMG Roadsters.

Marlow said: “We’ve already received a large amount of enquiries to fund these vehicles and expect that to increase.

"I believe the Ferrari FF is going to have a major impact on the prestige car market and therefore our finance packages.”

Another factor is cheaper loans. Marlow said Bridford offered rates as low as 4.95%, which was playing a major part in helping more customers into their dream cars.

“People are taking advantage of the low rates,” he said.

“The recession has slowed the market in some areas, but our products are becoming popular with dealers who need to have as many credit lines available as possible.”

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