What is Automotives and Vehicles Finance?
Automotives and Vehicles Finance
We can assist in a range of options, such as leasing, hire purchase or asset refinancing, allowing you to unlock much needed cash flow for your business. There are many difficulties that face the industry, with macroeconomic problems; heightened fuel costs, lower margins, and unfavourable new European legislation all leading to a more difficult environment in which to operate. We can work with together to assess funding packages and provide transport finance to assist in releasing capital to help in running the business, by releasing finance from your vehicles or spreading out purchase costs.
Key commodities include:
- Buses and coaches (PSVs)
- Trucks (HGVs)
When a business wants to trade internationally, the exporter would typically want to be paid up front by the importer. The bank would issue a Letter of Credit, which guarantees this payment to the exporter upon receipt of documentary proof that the goods have been shipped. This is then repaid once the importer has paid for the goods, which could be anything between 30-180 days later.
What is the SIC Code for Motor Vehicles and Cars?
The SIC Code for is 29100 (Manufacture of motor vehicles)
Other SIC Codes that could also be used are:
- 45111 Sale of new cars and light motor vehicles
- 45112 Sale of used cars and light motor vehicles
- 45190 Sale of other motor vehicles
- 45200 Maintenance and repair of motor vehicles
- 45310 Wholesale trade of motor vehicle parts and accessories
- 45320 Retail trade of motor vehicle parts and accessories
- 45400 Sale, maintenance and repair of motorcycles and related parts and accessories
A small entrepreneurial second-hand car brokerage based in Liverpool wanted to expand its stock. Trade Finance Global assisted with structuring a facility for the client to purchase more second hand cars and rapidly grow the business. The company went from £500k revenues the previous year to £1.2m in the first 6 months.
- No security or personal guarantee required
- Automotive and vehicle finance available even if the banks refuse finance
- Our partners find you solutions to increase trade
- Fast turnaround – get automotive or vehicle finance in 24 hours
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