Startline enjoys one-fifth increase in new business

Time 9:00 am, February 24, 2020

STARTLINE Motor Finance recorded a 19.8 per cent increase in new business volumes last month – its strongest recorded start to a year using this measure.

Chief operating officer Gregor Sutherland, pictured, said the near-prime specialist’s recent strong performance had been thanks to a number of factors.

‘The used car sector has seen a release of pent-up demand following the general election result, and almost all of the dealers and other partners with which we work are reporting positive performance.

‘We have also been working hard at improving our dealer partnerships and helping used car retailers to use our products in the most effective manner and this approach is definitely starting to bear fruit. The better an understanding that dealers have of the near-prime market, the better they can successfully apply it to their businesses.’

Based in Glasgow, Startline employs 125 people and works with around 50 per cent of the UK’s top 50 dealers when measured by turnover.

MORE: Dealers ‘need better data to maximise motor finance opportunities’

MORE: Near-prime lending ‘could come into its own if recession hits’

MORE: Startline secures £325m credit deal from investment bank

Car Dealer Magazine's avatar

Car Dealer has been covering the motor trade since 2008 as both a print and digital publication. In 2020 the title went fully digital and now provides daily motoring updates on this website for the car industry. A digital magazine is published once a month.

More stories...

Server 108