Member Article

Auto Service Finance surpasses 300th dealership rollout mark

Auto Service Finance (ASF), an interest free payment plan aimed at the aftersales market, has rolled out at its 320th dealership in the UK.

ASF, which allows customers to split payments across three interest free monthly instalments, with dealerships paying a transaction fee on the total purchase amount, has now been installed across major brand’s dealerships, including Vauxhall, Peugeot Citroën, and Ford.

The solution is aimed at giving greater flexibility to consumers and driving revenue in aftersales departments.

Analysis from recent ASF loan data has also revealed that 47% of the total customer loans to date in 2016 have been to cars aged between three to six years old, with an overall average vehicle age of 6.6 years, highlighting the potential of aftersales finance to keep this key customer group within the franchised dealer sector.

Jack Allman, CEO of ASF, said: “Reaching 320 dealership roll-outs represents a significant landmark to us and demonstrates the increasingly popular role of interest-free finance instalment solutions in the aftersales market.

“As the use of traditional loan sources, such as credit cards, declines, customers are looking for alternative means of paying, which offer the flexibility they require.

“Having an interest free finance solution ensures dealers are able to maximise profits and retain business in a competitive market place while customers are given a transparent and flexible way of managing their motoring expenditure.

“In particular, the ability of aftersales finance to attract motorists who are now out of warranty periods shows the value of the service when it comes to developing long term customer loyalty.”

With ASF now approved by a number of leading brands, further roll-outs are due in the coming months.

This was posted in Bdaily's Members' News section by Auto Service Finance .