Fix Auto UK launches finance scheme
Fix Auto UK has launched an interest free finance scheme to help customers fund their vehicle repairs.
Fix Auto Finance is an interest free credit payment method and allows customers to pay for repairs over three, six, nine, or 12-month plans, which is a first for the network.
A 60 second application process and a 96 per cent acceptance rate on all applications (subject to status) are two of the user-friendly features that have been developed, as well as the option to assign a guarantor to support applications.
The process is fully automated through Fix Auto UK’s existing Fix System software and users will be pre-approved for credit up to £2,000 if they use the estimate request function online.
The platform has already been adopted by more than 30 per cent of the Fix Auto UK network since its launch last month at the 2019 Fix Auto UK National Conference and following an exclusive report on the launch in the November issue of bodyshop magazine.
Fix Auto UK’s Ian Pugh said of the new scheme: “Fix Auto Finance has been designed with the consumer in mind. Consumers are opting for higher excesses in order to lower their overall premiums. This has created a new self-funded market space for minor vehicle damage, which is below their excess levels. With 45 per cent of all our damage claims below £1,000, our finance platform offers an alternative payment structure to help remove some of that initial financial pain if needed.
“It’s only been a few weeks since the launch now, but we are seeing a very positive response from both our network and customers. I look forward to seeing how this develops into the new year,” added Pugh.
