What are the requirements for a credit limit increase?
The COVID-19 pandemic has had a significant effect on our economy and the automotive sector. With this in mind we are revising our credit approval processes to ensure we are positioned to best serve our customers under these new market conditions.
During lock-down all stocking limits were reduced to their utilised amount, with an appropriate buffer to enable our customers to keep funding vehicles. As restrictions are lifted and trading resumes, limits will be reviewed on request with a thorough review of your facility usage.
Requirements for a credit line increased to be considered:
- Your dealership must be back trading
- All existing funded vehicles have been audited
- Your account must not be in arrears
- No requirement for extensions or capital repayments
- 3 months bank statements are available