Sinclair Finance and Leasing

Origins

Sinclair Finance and Leasing is an associate of the Sinclair Motor Group and a finance/contract hire arm was an obvious addition to bring incremental business to the main Group.

Our main challenges when starting the business

As Sinclair Finance and Leasing is financially independent, the biggest challenge initially was funding a very capital intensive business and trying to gain confidence from funders with little or no history. The business has grown steadily and although it is now offered adequate funding, the current reticence of the major banks to expand their lending portfolio may restrict future growth in the core elements of the business. The financial year ending January 2009 was particularly taxing due to the credit crunch which followed the collapse of a number of financial institutions in 2008.The company concentrated on maintaining cashflow rather than profits during this period and has since performed at levels of profitability previously achieved.

Success Factor

The most influential factor has been the personnel that have helped to take the business from strength to strength through good times and bad. This has been achieved through sheer hard work, commitment and determination from all parties. The business is staffed by a successful blend of young Welsh graduates and managers with lifetime experience in the industry. The company also diversified into a new market into the used car sector in 2001 and this has since grown from strength to strength. Finally, the USP is that the company is a family run business and not bank owned therefore offers a personal service to customers – main decision makers can always be reached through direct lines of communication. Customers like dealing with us as they feel more like partners rather than numbers. There is a ’can do’ attitude to clients’ needs and the business is prepared to bend over backwards to provide solutions. The business growth has been totally organic with considerable amounts of business being brought into Wales from across the Severn Bridge.

The Future

The main aim is to continue growth at a steady pace offering a wider range of finance packages to the small and medium business sector. It will increase its online marketing which gives a better return on investment and delivers the service to a wider audience nationwide. It will also diversify into other related areas of the automotive sector such as vehicle servicing and tax efficient funding schemes for employee owned vehicles. Certainly, there is a need to increase the awareness of Sinclair Finance and Leasing in further to reach areas of the country.