10:22 am, January 28, 2011
BRIDFORD Financial Solutions has announced it finished 2010 by beating all previous records.
The prestige car finance specialist arranged £31.3 million in 2010, and saw a more than 20 per cent rise in funding from £25 million in 2009.
The company says the increase is due to it being able to offer rates as low as 4.9 per cent, it launching the automotive industry’s first variable rate calculator for car dealers, and the launch of cars such as Ferrari’s 458 Italia and the Mercedes-Benz SLS.
September was the record month with funding secured for a collector’s item 1974 Porsche Lightweight at £223,000, a £174,000 Ferrari 599 GTB, and two Bentley Continental Supersports costing £170,000.
The bad weather also saw an upsurge in demand for 4×4 vehicles with Bridford funding the majority of these in November and December.
Bridford Financial Solutions owner Tim Marlow (pictured) said: ‘Consumer spending has generally slowed over the last couple of years and has hit the automotive industry, but we specialise in funding the most prestige vehicles that typically cost more than £25,000 and enjoyed 20 per cent growth last year.
‘We’ve started 2011 exceptionally well with funding solutions for three cars costing £855,000 and with lending rates continuing to be very low, customers are really taking advantage of this to get into dream cars like Ferraris, Bentleys and Aston Martins.’
