UK car sales put Moneyway on the road to growth

SOLIHULL-based motor finance provider Moneyway is targeting an ambitious growth strategy after a successful 12-month period.

The business, a subsidiary of AIM-listed Secure Trust Bank, reached record revenues in July following the appointment of John Simpson as managing director earlier this year.
 
Moneyway works with car dealers to provide a range of alternative finance options for customers who might not otherwise be able to obtain finance.
 
Having provided lending facilities to drivers at a time when other lenders were retracting from the market, Moneyway is set to double its volume over the next two years as market conditions continue to improve.
 
Simpson said: “In the last 18 months, the car industry has made a significant turnaround, with sales now approaching pre-recession figures. As consumer demand increases, we plan to expand our sales team, enter new markets and develop new products in the prime space.
 
“Given its service to the motor industry during an extremely difficult time, Moneyway has built an extremely strong network, which will serve us well as we continue to grow.”