RMI teams with Moneyway to offer finance

RMI Motor Finance, its newly formed finance arm, has teamed up with Moneyway to launch two finance products for dealers.

Near prime

The Moneyway "near prime" product will allow motor dealers to offer finance products to a broader range of customers. It is also offering a prime product aimed at small to medium size dealers who, it said, have seen "a significant reduction in the number of finance companies supporting this sector".

David Nield, head of asset finance and lending at Moneyway, said:

"We are delighted to be working with the RMI and to have the opportunity of working with its members.

"When considering our entry into the motor finance market a year or so ago, we were very determined to avoid being just another ‘me too' proposition.

Boost for car sales

Julian Phillips, head of RMI commercial services, said:

"The RMI is thrilled to be able to offer this proposition to its members and hopes it will assist car sales in the current economic environment and beyond."

The products are supported by a website http://www.rmimotorfinance.co.uk where dealers can register.

Moneyway is a trading name of Secure Trust Bank.

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