Blue Motor Finance powers through the £2bn mark
Blue Motor Finance today announce that it has smashed the £2bn lending mark.
Since 2014, Blue has made stunning progress and in a short period of time has become one of the best-known names in motor finance.
Blue provides hire purchase motor finance to customers via its network of over 2,000 quality checked used car dealerships, and also offers SME lending to dealers via their Floorplan product, helping dealers access finance to stock their forecourts.
Blue has revolutionised the used car market by applying technology and innovation and using data and analytics to make motoring simple for its customers and dealers, increasing automation, delivering high levels of acceptances across the risk spectrum, fast decisioning and high levels of convenience. Advanced propriety technology helps to make the car buying journey better, simpler, and faster giving customers and dealers the best possible service and ensuring they can respond quickly to changes in the market.
Employing almost 200 people in the heart of the home counties and a network of 50 sales managers across the UK, Blue has an enviable track record of growth, winning the Financial Times’ 1,000 Fastest Growing Companies in Europe (FT1000) in 2019 and being featured on the list for 3 consecutive years (2018-2020).
Following the challenges of the pandemic, Blue has bounced back and has recently announced further funding lines, allowing it to extend its lending, and upgrades in its credit ratings proving its credentials as a responsible and reliable lender of choice.
Tiku Patel, CEO of Blue Motor Finance commented: “Smashing the £2bn mark is a significant step for us and further reinforces that we have got our offer right. Dealers appreciate our simple to use platform and customers love our straightforward product which makes Blue finance the perfect package.”
Tiku added “We couldn’t have achieved this without the hard work and dedication of our staff who have shown incredible flexibility and commitment for our dealers and customers through the difficulties of the pandemic. Blue has some very exciting plans for the future that will help us build on our remarkable growth over the last few years.”
