AM Online

Lender stretches out for plate-change business

By Tony Willard
MotoNovo Finance has set ambitious ‘stretch’ targets for its development team ahead of 13-plate March, increasing showroom loan training and support for dealers.

Head of sales and marketing Karl Werner said the lender was adopting “a baker’s dozen approach”.

Bakers in the 13th century avoided short-changing penalties by oversupplying.

“In March we are going a step further to ensure one of the widest support portfolios is used effectively by more dealers,” said Werner.

“A busy March for new registrations precedes one for used car sales. We are working to enhance used car sales and finance.”

MotoNovo also wants dealers to make better use of finance online and in the showroom.

Its MotorV8 incentive programme, launched last autumn, awards finance deal gift voucher points to dealers that can be spent in high street stores.

This month the lender launched MotoClick, an e-signature option it claims as a first for dealer finance.

Customers with a photocard driving licence and fully comprehensive insurance can finalise a loan by clicking a button, and dealers’ funds are then transferred.

DSG Prestige expects many high-end cars to be sold in March. It is among a group of brokers working with Hitachi Capital Services, one of the prestige car lenders filling the gap left by the UK finance sector exit of ING.

Tim Marlow, a director of DSG Prestige since it merged with his company, Bridford Financial Solutions, said: “We are helping dealers with loans in this level of the market and talking to their customers directly.

“We make it a three-way conversation and dealers like that.”

Click here for finance and insurance best practice and procurement insight

If you are not a registered user your comment will go to AM for approval before publishing. To avoid this requirement please register or login.

Login to comment


No comments have been made yet.