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|Alphera sees continued growth in premium captive sector|
|Tuesday, 27 September 2016|
The premium captive finance sector has grown by 30% year-on-year, according to the latest data from ALPHERA Financial Services UK. As captive finance provider for both Rolls Royce Motor Cars and Aston Martin, Alphera has seen a significant increase in individuals looking to funded solutions for their premium vehicle purchases, with finance in the sector operating at a ratio of one new to every three used vehicles.
With a number of new model launches on the horizon, this growth rate is expected to accelerate even further as order banks open for the new Rolls Royce Dawn and the Aston Martin DB11 models. Bespoke models and finance solutions are now increasingly expected by premium buyers, while a customer-centric approach is delivering significant value.
Alphera head of premium captives, Nick May, said: “We are seeing strong growth in the premium captive finance market area thanks to the launch of new models, high residual values in used models, manufacturer investment in facilities and the expansion of various dealer networks.
“From specification to customisation, customers are looking for manufacturers and dealerships to add extra value to the car buying experience. We have listened to the increasingly customer-centric marketplace and now offer a number of tailored solutions, including bespoke concierge credit line agreements which mean a vast reduction in the time usually taken to confirm vehicle sales funding.”
Alphera’s exclusive concierge-style service provides an extended credit line of up to £1m to allow for a seamless transaction almost instantly once the purchase decision has been made. These pre-agreed credit lines can be used for any make and model of vehicle for the customer, their friends or family.
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