Car Finance for dealers

[motortrade3232]

HI,

 

Thanks in advance for any help offered, and apologies if this post is not in the right place!

 

I have recently started a car dealing business which is doing fairly well in the first few months. We buy privately & from auction and sell only online through car sales websites (auto trader etc). We do not have our own website yet but this is something we are working on.

 

I am looking for a car finance company who work with independent dealer companies like mine but that do not require us to operate a forecourt. I have found that many finance companies only offer a service to firms who run a car forecourt and not to online sales only.

 

I feel like I've hit a brick wall here as offering finance to customers is a key part of our expansion plan....one we didn't investigate thoroughly.

 

Any suggestions would be great. We are based in Bromley, Kent,

 

All the best

 

Joe C

[sir_gilmour]

Hi motortrade3232

Welcome to The Consumer Action Group.

 

 

I am just letting you know that as you haven't had any replies to your post yet, it might be better if you post your message again in an appropriate sub-forum. You will get lots of help there.

 

Also take some time to read around the forum and get used to the layout. It is a big forum and takes a lot of getting used to.

 

 

Once you start to find your way, you will soon realise that it is fairly easy to get round and to get the help you need.

 

It can be bit confusing at first.

[citizenB]

I think you need to be in a different forum.. I will try and find where we should move you to to get more viewers.

[SeanG79]

Hi, you are correct most majority of car finance providers require you to have a fore court.

 

Do you have a Consumer Credit License? You will require one before you can offer/advertise finance to your customers.

 

I have access to lenders that will be able to assist you without having the forecourt, but you would have to be able to provide proof of title (invoice from the auction, confirming they have been paid in full), etc.

 

[EDIT] I will be more than happy to have a conversation and offer some advise and pointers based on your situation (not sure I can advertise a contact number).

 

Regards

 

Sean

Edited November 23, 2012 by ims21
Phone number removed

[ims21]

No sorry...no numbers in the forum.

 

You could end up with all sorts phoning you as this site can be read by anyone, not just members.

[SeanG79]

No problem, I did think as much...

 

I can offer a website link but that probably also falls under advertising?

[ims21]

Yes need to be careful.

 

Also, and please don't take this the wrong way, CAG is really a consumer focussed site rather than dealing with business to business stuff.

 

Maybe the OP should seek help in a Business to Business forum somewhere?

[SeanG79]

Not taken the wrong way at all.

 

Op's query is B2B but with the intention of offering consumer finance so possibly a grey area.

 

There is a UK Business forum available, needs to be googled...

 

Good luck!

[Conniff]

MOved to the self employement section