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Car dealers urged to ensure appeal of online finance offering

Car dealers are being urged to ensure they have an effective online finance offering.

A bright, clear presentation is vital says finance software experts Codeweavers.

Sales director Shaun Harris said: “Used car dealer finance may be 9% up this year, but with consumer credit growing by broadly the same level, dealer finance risks losing the ground it gained through the economic downturn.

“It is essential that dealers ensure the attractiveness of dealer finance is clear in the fastest growing marketplace for finance – online.”

Codeweavers analysis of the consumer credit market suggests that while still the largest source of unsecured lending High Street banks are lagging behind growth in the wider market.

The indications are that there is a trend to other channels, with online and supermarket lenders the likely winners.

“Lingering dissatisfaction with traditional banks and especially access to a wider portfolio of lenders through digital channels are thought to be the key factors behind this shift.”

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