Monday, March 17, 2008
Car dealers could benefit from tighter High Street lending
Tighter High Street lending prompted by the “credit crunch” could provide dealers with increased opportunities to sell their own in-house finance products, according to RAC Warranty.
The breakdown provider has teamed up with The Warranty Group to provide financial services, and told Motor Trader that tighter economic conditions are already prompting better penetration of warranty products and that a similar effect could be seen when it comes to used car finance.
"Dealers have had a tougher time selling their own finance products in recent years because the High Street lenders have provided extremely cheap loans to used car buyers,” said Ian Simpson, RAC Warranty sales and marketing director.
DATED: 17.03.08
FEED: MT
