Armstrong’s has expanded beyond vehicle retailing with the launch of Armstrong’s Finance, a standalone finance brokerage offering lending solutions across a range of personal and business finance products.
The new business launches with a team of more than 30 finance professionals and access to more than 18 lending providers, allowing it to compare finance options for customers nationwide.
Armstrong’s chief executive Troy Kennedy says the move builds on the company’s long history of arranging vehicle finance while responding to changing customer behaviour.
“Armstrong’s has a long history of helping customers with finance solutions that are structured around their individual needs,” Kennedy says.
“We believe Armstrong’s Finance can be a highly credible player in the finance market. We have strong relationships with major lenders, experienced people right across New Zealand, and the ability to work through a range of options to find the right package for each customer.”
Kennedy says more customers are seeking finance approval before making major purchases, increasing the need for independent advice.
“People are more cost-conscious, and more are starting their journey by sorting out finance first. That’s a positive shift, but it also means they need better advice earlier in the process.
“We often see customers take real care and time choosing the right car, but arriving with their finances already sorted and not necessarily set up in the way that best suits them. Getting it approved isn’t the same as getting it right.”
The brokerage will offer personal loans, vehicle finance, equipment finance, marine finance, debt consolidation, insurance, motorhome and motorcycle finance, refinancing, renovation loans and business lending.
Krystal Petty has been appointed managing director of Armstrong’s Finance.
“Access to finance isn’t the main issue in New Zealand. The challenge is the clarity and visibility of choice. Many people often see only one of the different financing solutions available to them,” Petty says.
“Our role is to help customers understand all their options and access a finance structure that best works for them. By working with a broad panel of established lenders, we can compare solutions and help customers secure the best deal for them.
“Rather than offering a single lending product, our business operates as a broker, working across multiple lenders to present comparable options and explain them in plain language. Our aim is to help Kiwi customers make better informed decisions, not just faster ones.”
Kennedy says the business will apply the same customer-focused approach Armstrong’s uses in its dealership operations.
“We’re in this for the long run. Our approach to providing finance is simple and mirrors our approach to selling cars. Take the time to understand the customer and their needs, lay out the options properly, and help structure something that actually works for them.
“That might be a car loan, but it could just as easily be equipment finance, a personal loan, or restructuring existing debt. The principle is the same.”
