HITACHI Capital Motor Finance has partnered with Vertu Motors to launch a Buy Now Pay Later 0% deal with a six-month deferred period for customers.
The revolutionary deal, complementary to Vertu’s current five-year 0% deal, means that customers buying a vehicle in the last quarter of 2016 will now have the option to make their first payment in April 2017 – six months deferred from the time of purchase.
Vertu Motors plc was formed in 2006 to acquire and consolidate UK motor retail businesses. The group operates a nationwide chain of franchised motor dealerships offering sale, servicing, parts and bodyshop facilities for new and used car and commercial vehicles.
Many of its dealerships are operated by Bristol Street Motors which originated nearly 100 years ago as a single Ford dealership located on Bristol Street in central Birmingham and now one of the largest automotive retail brands in the UK.
Drawing on its 30 years of retail finance know-how, Hitachi Capital Motor Finance, which processes one deal every 30 seconds, prides itself on its fresh approach to dealer finance offering a range of flexible solutions tailored to the needs of both the customer and the dealer.
Hitachi Capital Motor Finance is uniquely positioned to support Vertu Motors Plc in offering the Buy Now Pay Later 0% deal at its 141 outlets.
The offer is expected to revolutionise the market, making finance deals not only simpler to administer and fairer to the customer, but more profitable for dealers too.
Jonathan Turner, strategic development manager at Hitachi Capital Motor Finance, said: “We are delighted that Vertu Motors Plc have entrusted our team of finance experts to offer this deal, the first of its kind, to motor dealers.
“Over the coming years I very much look forward to building on our great relationship with Vertu Motors Plc to offer more customers than ever before the flexible finance packages they need to help their businesses grow and thrive in the fast-paced motor industry.”