Oracle Car Finance exceeds £2 billion in vehicle funding – London Business News | Londonlovesbusiness.com

Oracle Car Finance, the UK’s leading funder of prestige, sports and classic cars, has revealed that last month the company surpassed £2 billion in vehicle funding for their customers.

The North Yorkshire-based finance broker has broken ambitious records year after year, currently providing more funding than ever before across the UK.

With the first £1 billion threshold passed just five years ago, Oracle’s achievement of having exceeded the next landmark figure this June now sets the benchmark within the industry.

After starting up in 2005, attempting to disrupt the car finance market, Oracle’s aim was to provide the highest level of service while assisting customers with their funding needs from their first car right through to their dream car.

Providing funding from £25,000 up to multi-million-pound sums for highly sought-after supercars and rare classic cars, the broker’s average funding amount is £50,000, which is many times the current industry average lend.

Having a range of over 20 hand selected lenders from some of the biggest names in the business, Oracle’s varied product offerings and bespoke finance packages are unrivalled among other brokers, as is their unique direct B2C business model.

Responsible for funding over 4,300 prestige cars last year alone, the multi-award-winning Knaresborough-based company has doubled its workforce and turnover in the past five years, setting targets to do the same again before 2030.

The £2 billion threshold reached demonstrates Oracle’s continued desire to set new standards in the finance broker industry, also by developing a bespoke CRM system and having an in-house Learning and Development programme and Compliance team.

Although located just outside of Harrogate in North Yorkshire, more than 50% of the broker’s business comes from the Greater London area, with the company providing a truly nationwide service.

Oracle Car Finance Managing Director and Founder, Peter Brook, said, “What began with two individuals meeting each other and combining their skills to find a different way of delivering car finance, became the UK’s number one funder for prestige, sports and classic cars.

“It’s hard to imagine this success without the passion and dedication of the whole team at Oracle. With over 110,000 clients now on our database, we ensure that every customer is treated like a VIP. On average, we fund around three Land Rover products a day, and almost 12 Porsches a week (based on 2023 data) as a result of all the hard work and efficiency from the Oracle Car Finance staff.

“£2 billion is just one of the milestones along the way that defines how successful we’ve been, but, more importantly, it represents the significant number of happy customers we have. We now have a loyal client base that wouldn’t even think about getting finance elsewhere. That to me is a much bigger milestone.”