BNP Paribas Personal Finance UK has launched an innovative motor finance solution.
The consumer finance provider, part of global bank BNP Paribas, has a wealth of motor finance experience globally, and currently works with 1800 dealers in over 11 countries, as well as partnering across a network of 16 manufacturers. It hopes this new solution will position the company as a driving force for change within the automotive market.
The business reports that it is committed to creating responsible motor finance solutions that its partners and consumers can trust by offering a range of dynamic products, which are competitively priced, digitally enabled and together underpin its reputation in the motor finance marketplace.
The launch of the UK motor finance solution follows BNP Paribas’ acquisition of Opel Vauxhall Finance (OVF) and its announcement in February 2018 of a strategic plan to support the growth of OVF competitive automotive finance solutions across Europe.
This new solution will offer a wide range of auto financing products including hire purchase, personal loans, stock financing, personal contract purchase, personal contract hire and value-added products.
Managing Director of motor finance at BNP Paribas Personal Finance UK Andrew Brameld said: ‘BNP Paribas is established globally as a significant provider in motor finance and we are now bringing that expertise to the UK market.
‘Our experienced team have built a suite of products that will provide our partners with helpful and responsible finance solutions. This is a great opportunity to establish ourselves within the £32bn UK car finance sector and further grow BNP Paribas’ footprint within the automotive market.’
Headquartered in Solihull, the consumer finance business aims to double in size by 2020 and as part of its strategy plans to expand into the motor finance market.
Pictured L-R: Jayne Licari, Andrew Brameld, Joe Cooke, Mandy Bal and Stuart MacKay officially launch BNP Paribas UK’s new Motor Finance Solution at their Paris Headquarters