Renewal of lender's funding means bright future for ACF Car Finance

Celebrations have begun at market leading sub-prime car dealer ACF Car Finance Limited after its primary lender, The Funding Corporation Limited (TFC), has announced that it has renewed its banking facilities, for a further two years.

Independent motor finance company, TFC, has secured the funding with corporate lender Barclays Capital, for the longest period ever agreed in the company's history.

This success secures the future of ACF Car Finance, allowing the market leading sub-prime car retailer to continue to assist customers in arranging car credit throughout its network of eight used-car dealerships.

As the only major company within this market place, ACF Car Finance can continue to supply a wide range of quality used vehicles to the growing number of customers with poor or no credit history.

Norman Beaumont, Sales and Marketing Director of ACF Car Finance, clarifies the importance of this achievement for the business: "Not only does TFC's funding agreement secure our immediate future as market leader, it also allows us to power on with further planned developments in 2010 and beyond.

"We're now concentrating on improving the ACF Car Finance customer proposition even further, by re-locating and refurbishing our dealerships. Our customer base is growing and becoming more discerning so we need to invest now to ensure our success is sustainable."

This news comes as ACF Car Finance has announced record breaking results in the volume of car credit applications processed in a single day and statistics showing Aftersales issues being well below the recognised industry average. In addition, customer survey results demonstrate that, amongst other fantastic feedback, 91% of customers would recommend ACF Car Finance to friends, family members or colleagues.

Furthermore, work between TFC and Experian to refine the credit scorecard has resulted in a wider range of risk-based APRs being made available to ACF Car Finance customers.

"2010 is set to be a very exciting year for ACF Car Finance," Beaumont adds, "TFC can now offer a wider range of risk-based APRs to an increasing number of customers, meaning ACF Car Finance is able to continue to promote our main benefit and unique selling point - credit repair. By paying in full and on-time every month, customers can improve their credit history and gain a better credit score which may help them when looking to obtain further credit in the future."