Seven months after announcing plans to offer finance for prestige cars, Investec Asset Finance is set to provide sales finance for McLaren Automotive.
Under the terms of the agreement, Investec’s first with a manufacturer, the finance provider will offer and manage retail finance products throughout the authorised UK dealer network for McLaren, the high-end brand which offers road cars based on Formula One specifications.
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According to Mike Francis, managing director of Investec Asset Finance, the company is looking to grow its "high-end" business and "the partnership with McLaren comes at an opportune time".
Bodies such as British Car Auctions and industry experts have pointed to the buoyancy of prestige cars, including the operations of McLaren, as an exception in the troubled UK economy.
Greg Levine, sales and marketing director at McLaren Automotive agreed the partnership came at "an exciting time", with McLaren’s retail network passing its first year of operation and the P1 model making its debut at the Paris Motor Show.
Investec Asset Finance is a wholly-owned subsidiary of global leasing company Investec Bank which began its car finance operation in March, partnered with broker London Asset Finance.
richard.brown@vrlfinancialnews.com
