Rising consumer demand for car finance drives CarMoney to open an office in Dundee

CarMoney's Alastair Grier at the new premises

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Up to twenty new quality jobs to be created

CarMoney, the rapidly expanding UK-wide motor finance business, is set to open its first regional sales and administration office in Dundee in response to rapidly rising consumer demand.

The Motherwell-headquartered company, which partners with some of the largest brands in the automotive sector including eBay Motors Group, Exchange and Mart, and appears on comparison sites such as Confused.com, will be based at the Peter Vardy Group’s Carz site in Dundee’s Dunsinane Industrial Estate.

Up to twenty new quality jobs, including a sales manager and a team of sales people, will be created, with further roles likely to emerge as the business develops. CarMoney’s operation in Motherwell already employs 128 people, up from 71 this time last year.

CarMoney’s Managing Director, Alastair Grier, said: “We are steadily carving out a bigger and bigger share of a strong marketplace throughout the UK and have added our presence to sites such as CompareTheMarket and GoCompare during this period.

“We have chosen Dundee as our next operational base because we know there is a great workforce there and we want to attract the best of them to our dynamic operation.

“On a personal note, my daughter, Emmeline, is currently a student in Dundee and is full of enthusiasm for the city and its people. I won’t deny that this has had a bearing on my thinking to locate our next operation here.

“We continue to disrupt the market across the UK by applying technology to take away the discomfort of buying a car through helping customers smoothly navigate their way through the process, all the way from choosing the right vehicle from a respected dealer, to putting the best finance package in place.

“Most recently, we have been pushing hard to help customers to finance electric cars and have partnered with ZoomEV, the electric vehicle sharing platform which brings together electric vehicles and sharing economies to combat climate change.

“As to changing customer behaviours, we have noticed more and more customers applying for finance before looking specifically at cars in their quest to clarify the monthly payments and how much they can afford to borrow. This may be an early manifestation of a developing cost of living awareness but it is still early days.”

The company, which added 300 new dealers to its network in 2021, oversaw the sale of 3949 vehicles in the quarter to 31 March 2022, compared to 2461 in the same period last year.

CarMoney provides car finance to customers who can take possession of their new vehicles via home delivery or click and collect wherever possible. This is facilitated by a UK-wide network of dealers, while setting best in class processes to keep guests and colleagues COVID safe.

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