BNP Paribas completes automotive finance partnership with DealTrak

BNP Paribas Personal Finance has signed a new partnership deal in the UK’s automotive finance sector with F&I platform, DealTrak.

This offers access to 1,100 UK dealerships and the potential to tap into the some of the 3.6 million proposals sent through the platform each year.

BNP Paribas Personal Finance officially launched its range of car finance and leasing products in the UK in November 2018, with an F&I portfolio which includes hire purchase (HP), personal contract purchase (PCP), personal contract hire (PCH) and personal loans.

Working alongside automotive F&I technology specialist, DealTrak, the products are designed to provide dealerships across the UK with helpful and responsible finance solutions to help them grow their business.

The first phase of the partnership sees a new DealTrak platform integration which will enable dealers and brokers to interact with BNP Paribas Personal Finance and obtain lending proposals and decisions in an instant.

The integration also includes a proposal process which can also handle Value Added Products (VAP) and negative equity compliantly and efficiently.

BNP Paribas Personal Finance managing director of motor finance, Andrew Brameld, said: “BNP Paribas Personal Finance is already established globally as a significant provider in motor finance and we want to use our entry into the UK market to drive significant growth for our business.

“The volume of traffic through the DealTrak platform represented potential transactions totalling £9.6bn last year, and in order to achieve our aims - and tap into the £32bn UK car finance sector - it made business sense to partner with an F&I specialist with DealTrak’s expertise.”

The consumer finance provider, part of global bank BNP Paribas, currently works with 1,800 car dealers in over 11 countries, as well as partnering across a network of 16 manufacturers.

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