Barclays to end point of sale motor finance

15th July 2019

Barclays Partner Finance has announced that it will be pulling out of motor finance market as a result of an internal strategic review. The company has issued termination notices to dealer partners within the industry explaining its decision.

In a statement, Barclays Partner Finance said “Barclays Partner Finance is currently number one in UK retail point of sale and has a vision to continue to lead this market through continued investment in new capabilities and innovation to grow.”

“After a strategic review of its Motor Portfolio, Barclays Partner Finance has made a commercial decision to reduce its focus on Motor Point of Sale Finance. Given this outcome, the business will no longer invest in the Motor Portfolio as a growth area and will shortly cease to originate new business in this segment. We will continue to support colleagues as we work through this transition.”

Barclays Partner Finance offered personal contract purchase (PCP) and conditional sale motor loans as part of its motor finance business.

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Barclays to end point of sale motor finance

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