CARFINANCE 247 CELEBRATES 12th BIRTHDAY AND INCREASE IN REVENUE WITH LAUNCH OF CHARITABLE FUND
MANCHESTER head quartered CarFinance 247 has made the Sunday Times Virgin Fast Track 100, ranking in the top ten, for the third consecutive year.
The esteemed honours list ranks Britain’s 100 private companies with the fastest growing sales over three years.
This year CarFinance 247 ranked number nine in the UK, making it the highest placed business in the North West, achieving an average annual sales growth over the past three years of 121 per cent. The national average for this year’s Fast Track was 65 per cent.
A business that continues to go from strength to strength, CarFinance 247 is leading the way in online vehicle finance via its award winning website and clever use of digital technologies, attracting more than six million visitors to its site annually. Last month alone £282m of loans were approved by the firm with customers enjoying unrivalled speed and ease for funding a vehicle ahead of purchase.
Its innovative, customer focused approach also extends beyond finance provision by giving approved customers access to its exclusive member’s area to browse more than 120,000 vehicles from trusted UK dealerships.
Recognition in the Sunday Times Fast Track 100 comes on the back of another hugely successful year for the car finance broker.
Posting annual sales of £38.6m, growth this year reached more than 61 per cent. It has also doubled staff numbers in the past two years coupled with continued investment into new digital technology and employee development programmes.
The business has also relocated its 400-strong team to new head quarters at Universal Square in Manchester this year, a 40,000 sq ft facility that includes an on-site gym, restaurant and landscaped courtyard.
CarFinance 247 Managing Director Reg Rix, who owns and runs the business with brother Louis, said: “Being included in this list is a huge honour for us and we’re understandably extremely proud. It’s reflective of the hard work and dedication from our whole team.
“While maintaining our focus on continually improving the customer experience and strong relationships with lenders, this year has been a significant one for the business – relocating our entire team to new offices in Manchester. We’re now set for further growth and have got lots of exciting plans for the future. “
Sir Richard Branson of Virgin, the title sponsor for all 21 years of the Sunday Times Virgin Fast Track, commented: “Entrepreneurs are the lifeblood of the economy; driving innovation, creating jobs and challenging industry norms. The achievements of the companies on this year’s Fast Track 100 list are fantastic. It’s clear over the coming years UK business will have to adapt to different conditions and we must do all we can to support our entrepreneurs – who will be the engines of growth for Britain.”
These customers are real CarFinance 247 customers. They were invited to become a celebrity for a day, taking part in photoshoots and telling us all about their CarFinance 247 experience, and they were paid for doing so.
Borrowing £7,500 over 4 years with a representative APR of 25.4%, an annual interest rate of 25.4% (Fixed) and a deposit of £0.00, the amount payable would be £239.77 per month, with a total cost of credit of £4,008.96 and a total amount payable of £11,508.96.
Rates may differ as they are dependent on individual circumstances. Subject to status.