halil spencer new

Alphera Financial Services surpassed 100,000 motor finance agreements in 2020, marking its best-ever year.

The finance specialist, which is part of the BMW group, issued 104,504 new contracts – a 20.6% year-on-year increase – which totalled £1.8 billion, itself a 24% rise compared to 2019’s £1.45 billion.

The firm, which has operated in the UK for 15 years, has almost tripled its total lending and number of annual cases in the past five years.

“We worked closely with our Partners and customers to make sure that support was there when needed, such as with the transition to contactless sales processes or during times of financial difficulty for individual customers,” said director, Spencer Halil (pictured above).

“The strength of our partnerships was demonstrated in the ways we were able to be agile in responding to a rapidly-changing environment, while maximising the opportunities when the market and consumer demand picked up at pace.”

The announcement follows the launch of the company’s Alphera Zero product, which allows consumers to purchase a used hybrid or plug-in hybrid electric vehicle and help offset its remaining carbon emissions from driving throughout their term of ownership at no extra cost.

It also reported a 75% year-on-year increase in the number of customers using its MyAlphera Finance platform in 2020, in order to digitally manage their agreements, and it launched an automatic online payment deferral system for customers experiencing financial difficulties as a result of the pandemic.

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