What is Motor Vehicle and Car Finance?
Motor Vehicle and Car Finance
Vehicle finance is available for most types of transport and our dedicated specialists will work with you to find a funding arrangement that suits your specific needs.
Key vehicles include
- New and used cars
- You or your business is looking for £50k+ trade finance
- You want to purchase products/ buyers
- You are creditworthy
If you want to buy stock and 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 Vehicle and Car Finance ?
The SIC Code 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 limited company based in Lancaster that buys and sells cars from UK and European dealers. The client required payments to be made to its supplier against confirmed orders. Trade Finance Global assisted with creating an import facility and expects to support the business further as it grows.