Paragon launches dealer finance proposition

Paragon SME Lending is creating a dedicated team specialising in providing a secondary funding option for commercial vehicle dealerships.

Jamie Thompson (pictured) has joined the new team as dealer finance manager for the North, with a southern representative soon to be appointed.

Thompson joins Paragon from Mistral Group, where he was regional sales manager, and has developed a broad career in commercial and vehicle finance for the likes of PEAC.

Dale Trenam, Paragon head of transport, said: “We have found that commercial vehicle dealers require additional finance options outside of their core manufacturer finance arrangement, so feel this complimentary proposition will enable them to offer their customers a more comprehensive ‘one stop shop’ choice.

“It would also benefit the dealer to retain that relationship with the customer, throughout the sales process and beyond, rather than take it to chance that the customer is able to source funding through other means.

“Another helpful example is if the customer intends to sell the vehicle down the line and requests a settlement statement, we can work with the original dealer as that client may be in the market for a new vehicle. We see this proposition as a true business partnership between Paragon and the dealership.”

Commercial vehicle dealership customers will benefit from rapid credit decisions, so the vehicle will be quickly funded in time for delivery and operational usage, he added.

Thompson said: “I have been meeting with commercial vehicle dealers across Northern regions over the past month and the reaction has been overwhelmingly positive.

“Certain customer groups may not fit into the criteria of their manufacturer finance provider and they want a secondary option to be able to offer a better service to their clients; this is where Paragon can support them.”