Member Article

Evolution Funding launches limited company vehicle finance initiative

The UK’s largest motor finance intermediary Evolution Funding has launched an innovative ‘two for one’ initiative on all prime acceptances for limited companies.

The unique offering means that for every one acceptance with a prime lender, Evolution will guarantee a second acceptance on a similar vehicle, allowing the dealer to sell more vehicles to a limited company.

Chris Coverdale, Sales Director at Evolution Funding, explains: “In most cases, where the customer wants that second vehicle, we would aim to broker out the second deal. However, where this isn’t possible, we would agree the finance on our own book, Evolution Loans. As such, we can guarantee the second acceptance.”

Evolution Loans currently has over 1200 live agreements, over £5million in live loan balances and is set to be scaled up.

The ‘two for one’ initiative is further enhanced with the introduction of an auto accept facility for limited company proposals which will allow dealers to take their customers out of the market at proposal stage.

The launch of Evolution Funding’s latest initiative forms part of an ongoing strategy to grow the commercial vehicle division of the company, which has a specialist limited company unit and thirteen lenders that underwrite its commercial vehicle finance.

This was posted in Bdaily's Members' News section by Evolution Funding .