A number of Leasing Broker Federation members have signed up to the services of Infinite Fleet Solutions (IFS) which helps brokers provide vehicles to their customers where they have been turned down for vehicle funding.
IFS recently joined the Leasing Broker Federation as an Associate Member and Managing Director Jayson Drew, IFS’s Managing Director, explained how it helps broker customers: He said: “We look at a customer’s circumstances and ability to afford the monthly cost of a vehicle. Funding for vehicles is becoming tighter as the UK economy faces a downturn.
“We deal with brokers’ customers where we may be the only option when it comes to getting behind the wheel of a car. Many of our options for customers are relatively short term – 3 to 12 months – which provides a temporary solution to customers who may be able to go back to traditional finance methods after an initial period. We can source a suitable vehicle from new and used stock, so the turnaround time can be a matter of days.”
Due to client demand IFS now offers contracts from 1 – 36 months.
LBF member The Lease Lounge started using the services of IFS in September. David Cunningham (MD) said: “We are here to support our customers, and IFS’s service has allowed us to provide an additional safety net for those not being able to gain credit for their next vehicle. IFS has enabled customers we would normally turn away being able to find and fund a vehicle in the majority of cases.
One Leasing Lounge customer said: “The application process was no more onerous than I had to go through for any other credit facility, including my initial vehicle leasing application. The brand new Audi Q5 was exactly what I was after, and arrived within a matter of days after I had completed the application.
Drew added: “We offer a great service to customers, and what we offer is increasingly needed by many leasing brokers in the UK. We are just another option to use when other avenues have been exhausted.”