Alphera Financial Services enjoyed its record annual performance in 2020, signing 104,504 finance agreements representing 20.6% year-on-year growth.

This amounted to £1.8bn in lending during 2020, a record figure for Alphera and a 24% improvement over the previous year (£1.45bn). In the last five years, Alphera has nearly tripled its total lending and number of annual cases.

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Spencer Halil, director at Alphera, said: “2020 was a challenging year for a lot of reasons but the Alphera team and our partners really pulled together to turn things around and deliver a record-breaking performance. We worked closely with our Partners and customers to make sure that support was there when needed, such as with the transition to ‘contactless sales’ processes or during times of financial difficulty for individual customers.

“The strength of our partnerships was demonstrated in the ways we were able to be agile in responding to a rapidly-changing environment, while maximising the opportunities when the market and consumer demand picked up at pace. We’ve all had a challenging start to 2021, but as Alphera celebrates 15 years in the UK we’re optimistic about the future and the prospects for another positive year.”

In addition to the record results, in 2020 Alphera launched its first ever finance product to encourage the transition to more sustainable forms of mobility. Alphera Zero allows consumers to purchase a used hybrid or plug-in hybrid electric vehicle (PHEV) and help offset its remaining carbon emissions from driving throughout their term of ownership – at no cost to them.

In December, it was announced that Preston Rogers will join Alphera Financial Services as the company’s director, replacing Spencer Halil who will join Alphabet (GB) as chief commercial officer.

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Commenting on his appointment, Rogers said: “I’m very pleased to be returning to the Alphera fold, especially at a time when we will be celebrating 15 years of the brand in the UK market. In that time the business has made incredible strides in establishing best practices within the industry, being recognised as a progressive market player and developing a select network of Partners that is truly industry-leading in terms of business quality, performance and customer orientation.