INCHCAPE, which has 61 dealerships in the UK, has formed a joint venture company with NWS Bank which will provide car loan facilities and related services.

Known as Inchcape Financial Services the new company will provide a range of services such as car loans, insurance and warranties. In due course additional products and services are likely to be launched. While the initial company is targeted at retail buyers an Inchcape spokeswoman said future developments, which could include a contract hire division targeted specifically at the fleet market, remained open to discussion.