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New finance scheme offers alternative form of contract hire

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A new finance scheme, offering car and van retailers an alternative source of contract hire for business customers, has signed up more than 50 dealerships since its unveiling five months ago.

Grosvenor Corporate Finance, which is part of independent contract hire specialist Grosvenor Contracts, was launched to provide dealers with an alternative source of contract hire and leasing for their fleet customers. 

Offering fast quotations, quick underwriting decisions and a two-way reciprocal relationship, Giles Bolton (pictured), head of corporate finance, says the approach they are adopting is winning huge plaudits and with 58 dealerships joining the scheme so far, orders have soared well beyond their early expectations.

“Having previously worked for manufacturer finance teams I know from personal experience how incredibly frustrating it can be for dealerships to have to wait for credit decisions because the opportunity can be lost,” said Bolton.

“This is why Grosvenor Corporate Finance was established because we felt we could offer dealerships a viable alternative with greater efficiency and competitive pricing in mind.”

Grosvenor Contracts has helped many vehicle dealerships with contract hire solutions – now it says this new division gives dealerships a dedicated team to work with.

“Our independence means we can make our own underwriting decisions in-house and because we do not have a call centre it is straightforward for dealerships to access our quotation and customer services teams and build a great relationship with them,” said Bolton.

“Also, the fact that we already work with many small businesses appeals to motor dealerships as most need a contract hire partner that understands this sector and is prepared to work hard to win business in it.

“We have always had a culture of working hard for every vehicle, and are now working with a growing number of dealerships to win business because we are as determined as they are to secure the orders.”

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