DRIVALIA, the rental, leasing, mobility and broker funder of the CA Auto Bank Group, will be providing lease financing for Ssangyong Motors UK.
The deal is the result of a new financial partnership with CA Auto Finance, the UK entity of the international CA Auto Bank Group.
CA Auto Finance will provide SsangYong with a number of finance plans, including retail financing, dealer financing, and wholesale financing.
These products will assist with SsangYong’s customer financing operations in the UK and support the company’s dealer network nationwide.
The agreement comes at a pivotal time for SsangYong, with the company rebranding to KGM, and planning to launch its brand-new Torres (pictured above) and Torres EVX early in 2024.
We are delighted to have appointed CA Auto Finance after a rigorous selection process. Working with CA Auto Finance, a company with a similar ethos to ours, will support the growth of our business and help our dealers fund their inventory while giving SsangYong – soon to be KGM – customers the opportunity to obtain retail financing through a trusted company.
Alex Hughes, managing director of CA Auto Finance UK, added: “2023 has been an exceptional year for CA Auto Finance. The business has experienced phenomenal growth, and in April we became a true multi-brand independent finance and mobility specialist. As we see out the year by launching SsangYong’s finance business, the next few years are already looking to be just as exciting.”
Also read: SangYong rebrands to KGM
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Sarah Tooze has been an automotive journalist for more than 15 years, specialising in the fleet and transport sectors. She has held senior positions at industry-leading B2B titles Fleet News and Smart Transport, and led campaigns championing motorists as consumer editor for online used car marketplace Heycar and motoring advice website HonestJohn.co.uk. In 2017 she won the Newspress Automotive Business Journalist award.
