Record sales month for MTF Finance
Record month for MTF despite tough climate.
MTF Finance has had a record month for new loans, contrasting with an economic environment that has made it harder for people to get credit. The fastest growing part of the business is the dealer channel, up 25 percent due to a reinvigorated focus, coupled with its unique recourse lending model, that allows the dealer to make the credit decision.
Says CEO Chris Lamers, “August was our largest sales month on a like-for-like basis, and our receivables now exceed $748.5m, up 3 per cent in the past three months.
With a net promoter score above 80+, our customer satisfaction scores are amongst the highest in the world for finance companies.
“But the standout for us is the growth in the dealer channel. This market is incredibly important to us. As we see a challenging sales environment across the sector, we are partnering with dealers to help get New Zealanders into the vehicle they want and need.”
“Over the coming months we will be rolling out more products, and we have a long-term plan for not only how we partner more with dealers, but how we lead the growth of F&I across the industry.
“Dealers are facing a lot of change, with changing car fleets, carbon regulation, agency models and changing customer preferences, and we believe finance will be a critical part of what makes dealers thrive through this change.”