CarMoney, a car finance brokerage based in the UK and part of the Peter Vardy Group, has introduced a franchise model in a bid to enhance its brand awareness and geographical reach.
As part of its expansion plans, the brokerage said it seeks to become the fastest-growing operation of its kind in the UK and support franchise professionals in building sustainable and profitable businesses.
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CarMoney, already present in the international market with CarMoney Perth in Western Australia, aims to make cars affordable and accessible through its online digital service.
The franchise package includes the complete CarMoney sales-to-payout process and technology integration tools.
Wendy Taylor, Head of Franchise at CarMoney, expressed pride in the franchise strategy, emphasizing the experienced management team and the potential to attract knowledgeable franchisees. “We expect to attract franchisees with extensive knowledge and experience of the car finance brokerage business and of FCA regulations and compliance requirements, as well as a proven track record of achieving exacting sales targets in a competitive business environment.”
Alastair Grier, Managing Director of CarMoney, said: “We are very excited about the launch of our franchising package which will provide car finance professionals with an exceptional opportunity to make a significant impact on the market.”
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By GlobalDataCarMoney, founded in Glasgow in 2016, approved over £1.3 billion in loans in the past year and its lending panel includes BNP Paribas, Close Brothers, Blue Motor Finance and Zopa.
The company works with around 700 car dealerships and established car sales platforms, including AutoTrader, Motors, Gumtree, and MoneySuperMarket.
