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HPI Finance Gateway to boost buyer finance options

23rd August 2010 Print

This September’s new car plate change is anticipated to see a surge in consumers shopping around for new and used cars, as buyers bid to beat the January VAT rate rise up to 20% or snap up good quality trade-ins that hit dealer forecourts.  However, urges vehicle information experts HPI, consumers should consider  car dealers for competitive finance options as many offer buyers access to the best finance deals on the market and include free MOT insurance to help second hand car buyers avoid potentially hefty costs later down the line.

With banks and finance houses increasingly reluctant to lend money, dealers have been filling the void; in June over 50% of new cars were bought using dealer finance.  Across the UK dealers have signed up to become a member of HPI Finance Gateway, which has been designed to give buyers even wider access to those finance providers that will best match their individual needs.

“Consumers count every penny when it comes to buying their next car and look to tap into the best deals on the market, whether that’s a high street lender or car dealer.  HPI Finance Gateway was created as a result of listening to what new and used car buyers need in today’s economic climate.  As such finance providers covering the entire spectrum of risk have partnered with us to ensure that if a buyer can afford it, their local dealer can be the one to offer finance to them at a competitive rate,” explains Daniel Burgess, Automotive Director for HPI.

“However, we also understand that it’s not just the initial financial outlay for a vehicle that is hitting motorists hard; the ongoing hidden costs are putting a strain on household budgets too. This is why we include free MOT insurance to help used car buyers manage the financial cost of owning and running their car.”

MOT insurance has been designed to cover the costs should a vehicle fail an MOT test,  providing financial assistance for the repair or replacement cost of any insured components that have suffered failure during the period of insurance.

HPI Finance Gateway serves to tick numerous boxes in one sweep:  great money saving offers to the consumer from a choice of lenders, and a transparent process that leaves the buyer with a genuinely good deal in terms of financing the car and its upkeep.