There are two spaces in the car finance market
for independents to write new business, according to Peter Landers,
consumer finance expert with Grant Thornton’s Leasing &
Consumer Finance financial and strategic advisory team.
Landers,
who joined the specialist Leasing & Consumer Finance team
under partner Tarun Mistry three months ago after 30 years in car
finance, told Motor Finance the biggest opportunity for
independents in retail motor funding lies in current low interest
rates and borrowing costs, relative to income potential, so long,
added Landers, as funding facilities have been secured.
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Looking at the independent sector, Landers
said two spaces to lend were apparent. The first between the big
three private car financers –
Santander Consumer Finance,
Black Horse,
Barclays Partner Finance – and the larger, well-run companies
such as
MotoNovo,
Close,
Northridge and others. The second lay between that group and
the smaller, subprime and near-prime players.
“Given the scale of those businesses,”
explained Landers, “the gaps between those three segments are the
obvious areas of opportunity.
“More innovative dealer support funding,
broader strategic alliances and more imaginative funding structures
would be the other obvious areas of growth.”
A full interview with Peter Landers will
be published in the
July issue of
Motor Finance
magazine.
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By GlobalDatarichard.brown@vrlfinancialnews.com
