Moneyway in growth fast lane after car loan firm deal

SOLIHULL-based motor finance provider Moneyway has partnered with Cheshire’s Car Loan 4U as both companies look to expand.

Car Loan 4U compares car finance providers to find bespoke deals for online customers and, like Moneyway, says it is experiencing rapid growth.

Moneyway, the motor finance arm of AIM-listed Secure Trust Bank, has increased its lending commitments by 50% and is set to increase its overall market share further by offering credit on a larger selection of vehicles.

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 said: “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.”

 

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