Alphera Financial Services has launched a ‘first-of-its-kind’ annual payment product for its premium captive partners.
It comes after a trial held at the end of last year.
Designed to suit a customer who would traditionally pay for their new vehicle in cash, the annual payment product has been developed to support buyers who use bonus or dividend pay-outs to fund their vehicles.
Alphera’s head of premium captives Nick May said: “We are seeing strong growth in the premium captive finance market area and the roll-out of innovative products like Alphera’s annual payment solution are key to continuing that growth.
"With a number of new model launches on the horizon, it makes sense to offer customers a product which allows them the freedom and flexibility to purchase a new vehicle or upgrade their current vehicle in way which best reflects their annual income schedule.”
Alphera Financial Services’ annual payment product is initially being made available through Rolls Royce Motor Cars Financial Services and Aston Martin Financial Services.