Paragon launches commercial vehicle dealer finance proposition

Paragon SME Lending has bolstered its dealer finance proposition within its transport and logistics business with the creation of a new team.

The business has created two roles to support commercial vehicle dealerships across the country, as well as their suppliers.

The team will focus on providing a secondary funding option for commercial vehicle dealerships to complement manufacturer finance options.

Jamie Thompson has joined the team as dealer finance manager for the north, with a southern representative soon to be appointed.

Thompson joined from Mistral Group, where he was regional sales manager, and has developed a career in commercial and vehicle finance for the likes of PEAC.

Dale Trenam, head of transport at Paragon, said: “We have found that commercial vehicle dealers require additional finance options outside of their core manufacturer finance arrangement, so feel this complimentary proposition will enable them to offer their customers a more comprehensive ‘one stop shop’ choice.

“It would also benefit the dealer to retain that relationship with the customer, throughout the sales process and beyond, rather than take it to chance that the customer is able to source funding through other means.

“Another helpful example is if the customer intends to sell the vehicle down the line and requests a settlement statement, we can work with the original dealer as that client may be in the market for a new vehicle. We see this proposition as a true business partnership between Paragon and the dealership.”

The company said dealership customers will benefit from quick credit decisions, so the vehicle can be funded in time for delivery and operational usage.

Thompson said: “I have been meeting with commercial vehicle dealers across Northern regions over the past month and the reaction has been overwhelmingly positive.

"Certain customer groups may not fit into the criteria of their manufacturer finance provider and they want a secondary option to be able to offer a better service to their clients; this is where Paragon can support them.”