The RMIF has talked to a Treasury minister about its plans to form a car dealer bank in partnership with an existing financial institution.
Paul Williams, RMIF chairman, has told Angela Eagle, exchequer secretary to the Treasury, that his members want to have some control over funds available to lend to car buyers.
“We are feeling our way around Westminister with this idea,” Williams said. “It is a serious intention, and part of our determination to get some action moving for the retail motor industry.
“We don’t have a particular bank in mind – our partner might be a high street or commercial bank. The RMIF has already had a response from some banks but I can give no details at this stage.”
Source: AM Online