However, c.2K customers will continue to be served exactly as before, but companies looking to pursue traditional forms of contract hire and leasing will have their requirements addressed by sister company Pendragon Contracts.
Ken Trinder, who will continue to head up the new business, said:'Two elements in our experience with c.2K led directly to the creation of tins.co.uk. The first was there was a real demand among fleet customers for an advanced cash for car solution. The second was the obvious potential in the technology we pioneered for internet trading both in the corporate and retail sectors.
'What we have done is build on c.2K to create tins. The existing operation acts as a back office, supporting all tins administrative and technical needs, while we have added a call centre in Nottingham to service the requirements for for tins customers.
'Existing c.2K customers will continue to be served in exactly the same way as before and we retain the ability to offer contract hire arrangements for customers that request them.'
Trinder claimed that around 15% of tins quotations had been issued to drivers who were looking at cash for car options and several fleets had also contacted the company in a bid to provide employees with a flexible benefits package.