Business Loans for New & Used Car Dealerships
Get £3k to £300k in 24 hours*
- Pay back through future card sales
- Unsecured – there’s no worry
- Same day business funding
Quick Decision with No Obligation
Get £3k to £300k in 24 hours*
Quick Decision with No Obligation
Accelerate your business growth and stay ahead of your competitors with business finance designed for new and used car dealerships. A merchant cash advance unlocks funding in your customer card sales, allowing you to purchase new vehicle stock for your forecourt, expand your showroom or launch new services.
Unlock funding from £3,000 up to £300,000 against your customer card sales.
Automatically repay a small percentage when customers purchase by card – There are no fixed payments.
The advance is unsecured, so your business assets are safe.
A quick decision and process mean you can access your money in just 24 hours* after approval.
The cost of the finance is made clear to you upfront. There are no hidden costs, confusing APR’s or other nasty charges.
Apply at any time - We can process your application 24 hours a day.
Quick Decision with No Obligation
There are estimated to be 12,883 used car & light motor vehicle dealerships in the UK in 2023. The market is tough, and investing in your business is key to staying ahead of the competition.
We are pleased to announce that we are helping car dealerships and used car salerooms across the UK with merchant cash advance funding. There are many ways you can raise finance to help grow your car sales business, including bank loans, secured commercial loans, mainstream finance and other traditional forms of funding options. But they share many disadvantages between them.
Traditional lending can see strict lending criteria, long-winded application processes, formulation of business plans, the requirement for you to offer security (possibly home or commercial asset), charges, penalties and extra fees and so on. It can be a minefield to find the right type of finance deal for your business.
By using a cash advance, your car dealership won’t feel the pressure of meeting strict monthly repayments. If your business is seasonal, you may experience lower sales across a period. Therefore, your repayments would fall in line with your cash flow, and they too would be lower for that period.
We are helping more and more car dealerships find the funding they need to grow and free up cash flow.
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Car dealer finance is a funding solution for businesses that sell new or used vehicles such as cars, motorcycles and vans. Whether you need funding to purchase new vehicle stock for your forecourt or to make improvements to your showroom, car dealer finance could help accelerate the growth of your dealership.
The amount of funding your car dealership could borrow will depend on your average monthly card sales turnover. For example, if you take £50,000 a month in card sales, you could borrow up to 100 per cent of that amount or even more.
In some cases, lenders will advance your business a larger amount close to the equivalent of your total business turnover, including cash and card transactions.
We offer car dealer finance in the form of a merchant cash advance. This type of funding works slightly differently from a traditional business loan.
Unlike traditional finance, where you pay off a set agreed amount of money each month, a merchant cash advance allows you to repay a percentage of your future card sales.
In other words, you repay as you make sales from customer credit and debit transactions. This amount can average from 10% plus. For example, a customer purchases a second-hand car for £1000 and pays you by card. You will keep £900, and £100 (10% repayment) is paid back automatically to the lender.
Firstly, there is no APR. The lender calculates cost using a factor rate. This cost does not change and is the total amount that you will repay. On average, it fluctuates depending on business risk etc., from 1.23 plus. In other words, a business looking for £10,000 would repay £12,300, and a business looking for £50,000 would repay £61,500.
This factor rate value can change – sometimes lower, sometimes higher, so it is good to use a broker like us to ensure you receive the best market-leading factor rate.
Yes, if your dealership offers additional services, such as vehicle servicing, body and tyre repair and MOT's, the card sales made through these channels will be included and contribute to your advance amount and repayment.
Read more about business loans for car services and MOT centres here.
Quick Decision with No Obligation
"We have helped many car dealerships across the UK receive funding to grow"
£20+ Million
Total Funded to Businesses
90%
Application Approval Rate
The process is fast, simple and straightforward. It's hassle-free, meaning there's no complicated paperwork to complete so you can focus on growing your business.
Apply online for a cash advance from £3,000 up to £300,000 for any business purpose.
The merchant cash advance can be with you in as little as 24 hours* after approval.
You simply pay back a small percentage of your future card sales as they happen. You only repay when you sell.
Quick Decision with No Obligation
