?Motorcycle finance newcomer MotoNovo Finance has secured £25m from parent FirstRand Bank and plans to release it to the motorcycle trade at industry-leading rates over the next six months.
Said MotoNovo CEO Mark Standish (right): “In lean times like these, we understand that dealers need all the assistance they can get. While many dealers like our added value products, their top priority is to increase margins now.
“We’ll release the low rate funds exclusively to bike dealers in the peak selling season and while doing so, earn their trust in our wider capabilities.’’
The low rate funding will start at 1.99 per cent on new to one-year-old machines. As well as increased commission, dealers on the 2.49 per cent plan can earn £45 Visa card spend per deal, plus a free chance to earn more through an online Black Jack Game via MotoNovo’s innovative loyalty scheme, MotorV8.
Finance to 125 per cent of retail is also available under the scheme, allowing dealers to include a full range of extras, warranty and insurance to aid each sale. MotoNovo’s online proposal system, MotoClick, also boasts that, on average, cleared funds are in dealers’ accounts in less than 30 minutes.
Details: tel 029 2076 7169; www.motonovofinance.com
MotoNovo £25m muscle
