Carmoola debt deal with NatWest to offer ‘dealership-beating’ rates

Carmoola has announced a new debt deal with NatWest to offer ‘dealership-beating’ rates worth £100 million.

This will allow Carmoola to further enhancing the car buying experience versus traditional dealership financing. It is considered a fast, fair and affordable way for consumers to get car finance directly, rather than through an intermediary.

Aidan Rushby, founder and CEO of Carmoola, said: “Through this new deal with NatWest, we’re again showing our commitment to putting customers first, at a time when our hassle-free and user-friendly approach is needed more than ever.

“We’ve been working on this partnership for some time, and I am so excited that we can now provide our customers with even more amazing rates.

“This partnership not only enhances our ability to offer dealership-beating  rates, but also underscores a shift in the industry. The future of car financing is direct-to-consumer, and we are at the forefront of this change.

“Our goal is to make car financing as straightforward, transparent, and cost-effective as possible, and this deal will help us do that for even more car buyers.”

Carmoola expects to deliver billions of pounds worth of loan originations over the next five years.

The use of technology can streamine the whole process, from applying for a loan, to carrying out vehicle checks, and completing the purchase.  There is no extra costs, paperwork and uncertainty associated with car financing.

George Ross, managing director and head of speciality finance at NatWest, said: “We’re proud to partner with Carmoola, who are doing great things in the car finance industry and driving innovation in the sector.

“This £100 million deal is a vote of confidence in Carmoola and a commitment to the financial wellbeing of car buyers across the UK.”