Startline Motor Finance has reported that it will end 2018 with business volumes up by around 20% on the previous year.

During the 12-month period, it also expects to have seen turnover increase by around 25%, said chief executive Paul Burgess (pictured).

He said: “This has been a very good year for us. We have attracted a number of significant new customers, ranging from major dealer groups to specialist online providers, and have also created much higher levels of business through existing relationships.

“This success has been driven by greater penetration in the market for our flexible motor finance concept and especially by the launch of our PCP product.”

The Startline PCP product is designed to be offered by dealers alongside products from traditional prime lenders and suggested as an alternative source of funding when applicants are declined.

In 2018, Startline has also moved to new offices, which are more than twice the size of its previous premises, and has increased its headcount by 25% to around 90 people.

“We certainly believe that we are in an excellent position heading into 2019. While the used car market is likely to continue to thrive, economic conditions will be unpredictable and our product offerings will be even more relevant,” said Burgess.