CarFinance 247 eyes 2017 expansion following year of growth

Expanding online motor finance company CarFinance 247 is eyeing up further growth as it heads into 2017 on the back of a record year.

The Manchester-based company has revealed a new brand identity as it lays out its expansion plans for the coming 12 months.

CarFinance 247 achieved its most successful year to date in 2016, seeing its turnover leap year on year by 154%.

Similarly, the value of the company’s loanbook skyrocketed by 122%.

The last 12 months have also seen CarFinance 247 establish a new members’ area on its website, giving approved customers the ability to search for cars from a bank of more than 110k vehicles.

The firm’s digital presence was given a further boost with the launch of a new industry blog, #CarTorque, that features editorial input from motoring writer James Foxall.

Managing director Reg Rix, who owns and runs the company with his brother Louis, said: “It’s been an incredible journey over the past 10 years. The new look reflects our evolution and marks the start of an exciting new chapter with regards our future direction.

“As well as major changes to the customer experience and user journey, internally we have also launched Academy 247 to help nurture staff development.”

He continued: “Industry experts are predicting growth in our sector online and we feel we’re in a fantastic position to achieve another record breaking year.”

Louis Rix, who heads up CarFinance 247’s marketing, commented: “We have reinvested in the business on the back of a phenomenal couple of years and completely overhauled our marketing, most significantly to the hub of our operation – the website – to capitalise on the traffic we’re now achieving and the fact that brand awareness is at an all-time high.

“Many of the changes are about communicating with customers on their terms, and we are working hand-in-hand with industry regulatory bodies to not only achieve industry best-practice but set new standards with regards to compliance.”

He added: “To support our improvements, we’ve made three significant hires; we have a new head of compliance, new head of marketing and head of brand.”

CarFinance 247’s website attracts over 6m visits annually.