21/12/2018

9.9% APR USED VEHICLE FINANCE RATE

Dear All,

For the last quarter of the year, Platinum have been offering customers a used vehicle finance rate of 9.9% Apr, replacing our previous rate of 11.9% Apr.

The new rate was introduced to help increase our used finance penetrations across the group for a trial period.

During this trial we have seen a small improvement in our used finance penetration.

Moving into 2019 we need to focus on further improving our used finance penetration.  With this in mind we will be continuing to offer 9.9%Apr on used vehicle finance across the group, for the 1st quarter of the year.

Platinum's target for Used Finance penetration is 30%, at present as a group we are currently at 27%.

The more we increase used finance penetration across the group, the more opportunities there will be to offer competitive rates in the future.

Please ensure all your team members are aware that Platinum will be continuing to offer 9.9% Apr for the 1st quarter of the year.

Regards

The Board of Directors