Gordon Brown has cited the shortage of demand and availability of credit as the two main issues facing the motor industry. Credit arrangements are not so readily available at a time when buyers realise it’s a good time to buy.
John Collins, joint managing director of BHF Finance said: “This is where independent retailers can to turn to us for support. We have cash on hand and ready to lend at the best rates available. Don’t just take our word for it, go onto moneysupermarket.com and enter your vehicle loan requirements. Let’s say that you are looking for a £10,000 loan over 3 years. You will find that the best APR rates available from over 400 products start at 8.1% APR (as at 21st January 2009). Compare that to the 6.4% APR available from BHF Finance in the case of a new vehicle (or 6.8% APR in the case of a used vehicle) on exactly the same terms and you will see for yourself just how competitive your own Trade Association bank’s lending rates are." Tel 0121 446 6688