Member Article

Moneyway boosts its partnership with Macclesfield’s Car Loan 4U

Motor finance provider Moneyway has completed its biggest deal to date by extending its partnership with Macclesfield-based Car Loan 4U.

The new partnership is reflective of Moneyway’s pledge to increase its maximum advance by 25 per cent, now lending against a wider range of vehicles at a time when consumer spending is on the rise.

As a result, Moneyway, the motor finance arm of AIM-listed Secure Trust Bank, is set to increase its overall market share by offering credit on a larger selection of vehicles and tapping into the prestige vehicle space, offering larger loans across both prime and non-prime lending.

Car Loan 4U, which compares a number of car finance providers to find bespoke deals for online customers, is also experiencing rapid growth and is gearing up for another exciting year ahead.

John Simpson, managing director at Moneyway, said: “With disposable income on the rise, it is the perfect time for Moneyway to increase its maximum lend. This allows us to provide a “one-stop-shop” in the prime to non-prime space for our car dealers and brokers alike.

“Car Loan 4U provides an excellent service to its online customers and our operational processes work in complete synergy, making it quick and easy for motorists to gain access to finance. It is vital for us to maintain a positive customer journey as we enter the prime space and execute our ambitious growth strategy over the coming months.”

Carl Eccles, industry director at Car Loan 4U, added: “Moneyway has a fantastic track record in providing finance solutions that are affordable for motorists. Our extended partnership means that we are in a stronger position to fund a wider range of vehicles and commit to greater volumes, so it’s a very exciting time for both businesses.”

This was posted in Bdaily's Members' News section by Ellen Forster .