An aggregator has partnered with car brokering service Premium Car Search in order to better support its brokers exploring vehicle financing.
Connective reported a 36% increase in the number of asset finance deals submitted last month; the group attributes this increase to its brokers looking to deliver more value to clients and protect their businesses through diversification in response to the volatility of recent months.
With Premium Car Search, brokers can more easily source the ideal vehicle to match customers' needs, allowing them to focus on processing the deal through BOLT – a loan processing tool that enables a broader range of deals with minimal additional experience in asset financing.
“With the instant asset tax write-off for small businesses expanded from $30,000 to $150,000 and the end of financial year looming, now is the time for brokers to think about expanding into the SME finance space, if they’re not already in it,” said Brent Starrenburg, head of Connective Asset Finance.
“Combined with the current environment of very low interest rates, [this is] a rich territory for brokers to diversify their offering.”
According to Connective, many businesses prefer and actively search out a single source for support across all their financial needs.
“Clients are looking for a finance partner, not a one-trick broker. Once they find someone they trust and can have candid conversations with about their finances, they want that person to support them across all their financial and credit needs,” Starrenburg explained.
“The property market will likely continue to face headwinds as the economy tries to recover, so it’s important that brokers can adapt their skills and talk to clients about their need for credit more broadly and become this finance partner," he concluded.
