Rapid expansion on the road ahead as fast-growing Glasgow brokerage launches exciting new franchise model

14/02/2024
Alastair Grier (CarMoney)

CARMONEY, one of the UK’s largest car finance brokers, is set for a major acceleration in growth as it launches its franchise model in key territories to significantly increase brand awareness, footprint and geographical reach.

The brokerage, part of the Peter Vardy Group, has unveiled its ambition to become the fastest-growing operation of its kind in the UK and to support a new cohort of franchise professionals in achieving sustainable, profitable business success.

CarMoney, which already has a presence in the international market with CarMoney Perth in Western Australia, aims to leverage its expertise to make cars affordable and accessible to everyone by offering choice, value and a seamless online digital service.

The franchising package, which is expected to attract the top tier of finance and business opportunity professionals, will create partnerships which contain the complete CarMoney sales to payout process, backed by the industry’s finest technology integration tools.

Wendy Taylor, Head of Franchise at CarMoney, said: “We are proud to be able to announce the launch of the CarMoney franchise strategy, which creates an outstanding opportunity to share in our successful, fast-growing brand.

“CarMoney has a highly experienced, professional management team with the skills and dedication to deliver and support a strong franchise proposition. This includes the top level of financial services and retail car industry expertise. 

“We expect to attract franchisees with extensive knowledge and experience of the car finance brokerage business and of FCA regulations and compliance requirements, as well as a proven track record of achieving exacting sales targets in a competitive business environment.”

Alastair Grier, Managing Director of CarMoney, said: “We are very excited about the launch of our franchising package which will provide car finance professionals with an exceptional opportunity to make a significant impact on the market.”

CarMoney, which simplifies the car financing process for buyers by applying user-friendly technology, has approved more than £1.3 billion in loans over the past 12 months and has an extensive lending panel which includes BNP Paribas, Close Brothers, Blue Motor Finance and Zopa.

The company works with around 700 car dealerships and established car sales platforms, including AutoTrader, Motors, Gumtree, and MoneySuperMarket.

Founded in Glasgow in 2016, CarMoney’s award-winning services cover all categories, from business-to-business and direct-to-consumer cars, light commercial vehicles (LCVs), motorbikes and motorhomes. It employs around 200 full time people and was acknowledged as the 12th fastest growing company in Scotland in 2023.

The latest stories