Amid a challenging cost-of-living crisis, securing credit for essentials like a reliable vehicle has become increasingly difficult, especially for those on limited incomes. Lenders are shifting their focus from generic credit scores to affordability assessments, making traditional Hire Purchase finance products less accessible due to higher monthly payments.
With the rising cost of everyday necessities impacting credit reports, even individuals with previously excellent credit histories are facing obstacles. However, the need for a car remains unchanged as it plays a crucial role in enabling people to maintain their independence, commute to work, transport their children to school, and more.
Marsh Finance, a seasoned player in the car finance lending industry with over five decades of experience, is at the forefront of addressing this issue. We believe that car dealerships and car finance brokers can benefit from considering Marsh Finance as a partner. Let’s explore the reasons why.
- The Changing Landscape of Credit Assessments: Traditional credit assessment models are no longer sufficient in the face of evolving economic challenges. Lenders are now prioritising affordability over generic credit scores. This shift has made it difficult for many potential car buyers to access financing, particularly through higher-cost Hire Purchase options. By embracing non-prime PCP products, dealerships and brokers can cater to a broader range of customers who may not meet the stringent criteria of traditional lending methods.
- Accessible Monthly Payments with Near-Prime PCP: Marsh Finance is a pioneer in offering near-prime PCP products. This innovative approach allows customers to enjoy driving their dream car while maintaining manageable monthly payments. Near-prime PCP products are designed to provide flexible financing solutions that cater to customers with varying credit profiles. This opens new avenues for car dealerships and brokers to meet the diverse needs of their clientele.
- Marsh Finance: Your Ideal Lending Partner: With over 50 years of experience, Marsh Finance is a trusted partner for car dealerships and brokers. Beyond being a lender, Marsh Finance is committed to fostering fruitful partnerships. We offer a complimentary consultancy service focusing on sales, operational efficiency, and compliance. This added value demonstrates our dedication to not only providing financing but also helping our partners succeed in a competitive market.
- Supporting Your Customers: At Marsh Finance, we firmly believe in the power of partnerships and supporting customers. By partnering with us, dealerships and brokers can offer their customers access to a wider range of financing options, increasing the likelihood of securing the perfect car. This customer-centric approach not only enhances customer satisfaction but also helps dealerships and brokers build long-lasting relationships.
As access to credit becomes more challenging, car dealerships and car finance brokers need to adapt to the changing lending landscape. Marsh Finance, with its wealth of experience and commitment to providing non-prime PCP products, offers a compelling solution. By including Marsh Finance in your lender panel, you can expand your customer base, cater to a broader spectrum of credit profiles, and increase profitability.
Take the first step toward broadening your customer base and boosting your profits today. Click here to explore how partnering with Marsh Finance can transform your car dealership or brokerage. Don’t miss out on the opportunity to offer your customers affordable non-prime PCP solutions and access our valuable consultancy services.