Bumper urges dealers to tap into £100m annual savings

Bumper has urged dealers to help customers save upwards of £100m a year by paying for repairs using zero-interest monthly payments.

The automotive aftersales finance provider reported that customers using its PayLater funding service have saved £213m since its launch in 2014, with a further £100m in savings predicted this year.

James Jackson, CEO and co-founder of Bumper, said: “Even though average credit card APRs are riding at historically high levels, some car owners faced with the ongoing challenges of the cost-of-living crisis are racking up debt unnecessarily when it comes to paying for vehicle repairs, services and maintenance.”

PayLater

He continued: “However, as we sign up new dealer groups and integrate with more platforms, we are seeing an exponential growth in demand for our PayLater service from owners choosing to spread their costs over monthly instalments that do not attract interest.

“We believe by the end of this year our dealer partners will have helped save their customers at least £100m while also boosting the amount of amber and red work carried out in their workshops.”

Bumper has worked with over 5,000 dealerships across Europe who between them have supported more than 600,000 drivers with servicing and repair bills.