Help with offering car finance

[Pro care cars 0]

Hi, Increasingly I get asked if I offer finance. I’m a sole trader trading from home stocking around 10-12 cars. Is it possible to offer car finance and how do I go about it. Any help is greatly appreciated as it’s all overwhelming to me. 

[David Horgan 564]

21 hours ago, Pro care cars said:

Hi, Increasingly I get asked if I offer finance. I’m a sole trader trading from home stocking around 10-12 cars. Is it possible to offer car finance and how do I go about it. Any help is greatly appreciated as it’s all overwhelming to me. 

Really need to get FCA approved to start with , Then find your self a Broker to deal with so you can propose the customers to finance .

Other way is to approach someone like Close Brothers direct who are the finance company , But being a home trader or low units per month they may well say no . 

home trader is probably best with a Broker , Mallard may help  , Evolution is a broker dealing with most of the finance companies , Octane is a broker too , 

But the start is your FCA licence so you have a an FRN  number , Limited permission Broker number you want , they wont deal with you until you are FCA approved . 

Does come with costs and extra work though , not all roses , thorns too . But the commission at the month end is very very good income