The Retail Automotive Alliance has struck a deal for its members to to roll-out Buy Now Pay Later finance products through service and repair centres in a deal with Payment Assist Ltd (PAL).
The RAA is a buying group representing 32 franchised dealer groups with annual turnover of £4.1bn. The network collectively ranks as the fourth largest car retailer in the UK.
“PAL is actively engaging with RAA members to deploy Buy Now Pay Later finance solutions across their service and repair centres,” said PAL.
“Discussions are also underway to introduce a broader retail finance product range, aimed at driving growth within their aftersales operations,” said PAL.
Separately, PAL has struck a deal with eDynamix, integrating its BNPL product into eDynamix’ exsto platform, enabling up to 1,100 dealerships to offer instalment-based finance directly within their aftersales workflow.
Unlike other types of loans, BNPL loans are typically interest-free and rarely carry other service fees, making them suitable for people on a tight budget.