Startline Motor Finance has taken on 10 more employees to help it cope with expected high used car demand early next year.
Chief executive Paul Burgess said they were joining the origination team at its Glasgow HQ.
‘We normally see a bump in demand during January and are expecting this to be a strong month accompanied by a strong Q1, so we want to have the people in place needed to handle demand from dealers and other motor finance introducers.
‘The used car market has remained buoyant during 2021 and we have continued to see growth as a result.
‘We have supported this by gradually increasing our employee numbers and are now up to around 160 people in total.’
Burgess added that Startline expected the general economy would be potentially quite volatile in 2022, although motor finance demand would be robust.
‘There is a good chance that early next year we will see a range of factors negatively affecting the economy, including materials and labour shortages, the end of furloughing, and the ongoing upheaval resulting from both Brexit and the pandemic.
‘However, we are confident in the resilience of the used car market.
‘While we expect values to finally stabilise, stock will remain in short supply and consumers appear to have an ongoing appetite to keep buying.’