BMW’s independent arm Alphera Financial Services enhanced its existing commercial finance package by supplying additional wholesale funding for independent retailers looking to grow their new, used and demonstrator stock profiles over the next year.
The lender, which already delivers commercial financing services for dealerships nationwide, calls for retailers to capitalise on the continued strong growth within the new and used car sectors by investing in their operations.
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According to the company, the additional funding services will support dealers with competitive commercial mortgages and loans.
"Through these, dealers will be able to furnish their forecourts with the most appropriate stock and secure funding to invest in their premises," the company wrote.
Kate Berry, business development manager at Alphera, said: "This is an ideal time for vehicle retailers to expand. The Finance and Leasing Association recently reported a record level of 78.7% penetration in the new car sector. Alongside this, we’ve seen a continued increased in both the volume and value of new and used car dealer-sourced finance.
"We’re looking to support dealers in the next stage of their development and recognise that access to commercial finance is fundamental to the success of the majority of dealers. That’s why we make a promise to deliver the most competitive products and bespoke solutions we possibly can to our partners."
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