Puddy Vehicle Solutions (PVS) has launched a finance brokerage division to help support companies fund their car, commercial vehicle and specialist vehicle fleets, plant and machinery.
Critically, the brokerage will also work with vehicle conversion specialists to enable them to provide their customers with a potential funding solution on the vehicles being converted.
PVS founder and managing director Marcus Puddy said: “We are continually asked to provide tailored finance solutions across a whole range of assets including cars, light commercial vehicles, HGVs, trailers, minibuses, emergency vehicles and coaches as well as plant and machinery.
“We also have vehicle conversion specialists approaching PVS to help source finance for their customers who are unsure of who to approach to lend on the vehicles being converted. That is, I believe, a major growth area as PVS is able to use its expertise to help organisations cut through the complexity of funding and target suitable providers.”
Funding solutions offered by PVS will typically be finance lease or hire purchase. Puddy explained: “Many businesses require finance to fund assets and on completion of the payment terms want to take ownership of the vehicle or item of plant or machinery and sweat it as much as they can to obtain a fantastic return on their investment.
“PVS will provide other funding solutions, including contract hire, but many businesses are aware of the established players and some of those providers will only lend finance if they retain ownership of the asset which is not what many companies require.
“We will approach funders on behalf of customers discuss all the options available and then enable businesses to make an informed choice on what funding channel best suits their requirements.
“Asset finance is an area with a lot of choice as well as complexity. PVS can support companies understand the choices available whether they are unlocking cash from assets already owned, or obtaining new vehicles, plant or other equipment.”
Joining PVS in May to head up the new finance brokerage as sales director is Paul Tregale, while Imma Matcham has already joined the company as asset finance assistant. Both join from Lombard Asset Finance.
Photo caption: PVS founder and managing director Marcus Puddy (left) with Paul Tregale and Imma Matcham.