Car leasing firm revs up growth plan

A COMPANY specialising in  leasing courtesy cars is gearing up for growth with a £5m funding package.

Bury-based Circle Leasing has established a market-leading position in the nine years since its launch. It moves over 20,000 cars to and from 450 UK dealerships every year.

Its deal with Yorkshire Bank will fund the purchase of more vehicles.

Circle has a turnover of £13m, a 35% and delivers vehicles from car manufacturers such as Vauxhall, Volkswagen, Ford and Nissan to independent bodyshops throughout the UK.

It offers short-term and long-term car contracts to many of the leading UK accident repair centres including GVS Bodyshops, Impact Repair Centre and Paddock and Cross Accident Repair.

Aidan Minogue, co-founder and managing director of Circle said: “We have been the number one courtesy car supplier since 2004 and have grown every year since. We are really pleased with this finance package as it will allow us to purchase more vehicles to continue to service this increased demand.”

Sean Molloy, business partner at Yorkshire Bank in Bolton, said: “The car industry has been through a rough patch for a number of years, but Circle Leasing has continued to thrive during this period, demonstrating a high-quality business plan and a strong growth strategy.”

Circle Leasing purchases the vehicles in advance from manufacturers and holds them at its Bury base until they are needed, shortening delivery times. The company specialises in smaller vehicles but also offers lease courtesy vans and larger cars.