BNP Paribas Personal Finance in automotive drive with DealTrak
BNP Paribas Personal Finance is staying on track with the UK automotive finance sector via a new partnership with finance and insurance (F&I) platform DealTrak.
This deal gives it access to 1,100 UK dealerships
This deal gives it access to 1,100 UK dealerships and the “potential” to tap into some of the 3.6 million proposals sent through the platform each year.
Andrew Brameld, BNP Paribas Personal Finance’s MD of motor finance, says: “The volume of traffic through the DealTrak platform represented potential transactions totalling £9.6 billion last year, and in order to achieve our aims – and tap into the £32 billion UK car finance sector – it made business sense to partner with an F&I specialist with DealTrak’s expertise.”
BNP Paribas Personal Finance officially launched its range of car finance and leasing products in the UK in November last year, with an F&I portfolio which includes hire purchase (HP), personal contract purchase (PCP), personal contract hire (PCH) and personal loans.
The first phase of the partnership sees a new DealTrak platform integration which will enable dealers and brokers to interact with BNP Paribas Personal Finance and obtain lending proposals and decisions “in an instant”.
The integration also includes a proposal process which can handle value added products (VAP) and negative equity compliantly and efficiently.
The consumer finance provider, part of BNP Paribas, currently works with 1,800 car dealers in over 11 countries, and partners across a network of 16 manufacturers.
