News Article

Consumer Credit

North West based online motor finance firm reports record results

By CreditMan Wednesday, July 15, 2015

Manchester-based Carfinance247, a specialist online motor finance broker, has reported annual growth of 280% in its last financial year.

Turnover at Carfinance247 rose to nearly £10m this year (£9.9m), from £2.6m last year, while the amount funded to consumers was £92.2m an increase of 271% on the previous year. The independently owned business is based in Ancoats and employs 165 people.

Brothers Reg and Louis Rix who founded the business in 2006 put the phenomenal growth down to their investment in technology, a fast growing passionate workforce and a shift in the market away from dealership finance.