Non-prime funder First Response Finance has begun offering up to 110% of the transacted value of a used car in Glass’s G2 guide.
In a communication sent to dealers, First Response said it had launched the offer having listened to the ongoing feedback from second-hand car outlets and made the company "more flexible than ever before".
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Speaking to Motor Finance, Jim Meldrum, regional sales manager at First Repsonse said the move was "due to the needs of the used car market".
The transacted value of a used car is currently only available through Glass’s G2 guide, launched in August, on the valuation company’s online system Glassnet.
Meldrum said the need for more flexibility was a result of the problems First Response’s supporting dealers had found in adapting to the G2 Guide and some of whom had considered switching to alternative valuer CAP.
Meldrum added he had been "busy talking and listening to dealers" since letting them know of the changes.
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By GlobalDatarichard.brown@vrlfinancialnews.com
