What is Motor Dealer and Car Finance?
Motor Dealer and Car Finance
We have a detailed understanding of the vehicles that are financed in the industry and how this is done. We want to help in creating bespoke funding solutions that meet the specific needs of the industry, whether you are a large dealership operator or a sole trader.
Key products include:
- New and used cars
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 Dealer and Car Finance ?
The SIC Code is 45112 (Sale of used cars and light motor vehicles)
Other SIC Codes that could also be used are:
- 45111 Sale of new cars and light motor vehicles
- 45190 Sale of other motor vehicles
A sole trader based in Newcastle that sells vehicles to customers in the UK. The client wanted to offer financing to customers who did not have the available credit to purchase vehicles. Trade Finance Global assisted with creating a finance solution for clients and will help in providing further support as the business expands.