Online Finance, the used car finance subsidiary of General Motors Acceptance Corporation, has launched Tiered Pricing to allow dealers to offer credit to the majority of motorists.

Tiered Pricing has five finance packages aimed at different sectors of the car buying public, from low credit-risk customers to high credit-risk drivers who would normally find it difficult to source a vehicle loan.

It is backed by Online Finance's 'deal and deliver' policy, which enables dealers to obtain a finance deal and complete the transaction for the customer within 30 minutes. The company predicts 1m used car sales this month.