UK-based commercial vehicle leasing provider Vanarama is to launch a personal and business car leasing service Vanarama Cars.
The company said the decision to launch this service was to take advantage of the booming personal and business leasing sector.
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"As the majority of new car drivers now choose to lease their car in much the same way as they do their mobile phone, making sure they have the most up to date and reliable technology available, the demand for leasing continues to grow," the company wrote.
According to the company, Vanarama Cars will use the buying power it already has with the major manufacturers to source cars from all the top marques.
Andy Alderson, Vanarama’s managing director, said: "With almost 76% of private new car sales paid for on some form of finance it’s clear that the appetite for leasing shows no sign of abating. Already the UK’s number one new van supplier to trades, we will capitalise on our extensive knowledge of the motor trade and existing industry leading customer service and sales channels, to extend our offer to cars for new and existing customers across the UK."
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By GlobalData
