MTF Finance
Script error: No such module "Draft topics". Script error: No such module "AfC topic".
| Limited company | |
| ISIN | 🆔 |
| Industry | Personal finance |
| Founded 📆 | 1970 |
| Founder 👔 | |
| Headquarters 🏙️ | , |
Area served 🗺️ | New Zealand |
| Products 📟 | Secured personal loans, small business finance, motor vehicle finance |
| Members | |
Number of employees | |
| 🌐 Website | www |
| 📇 Address | |
| 📞 telephone | |
Motor Trade Finance Limited (trading as MTF Finance and previously as MTF) is a finance company in New Zealand. Established in 1970 as a cooperative owned by South Island based car dealers, it has since expanded nationwide and opened several branded franchise offices alongside their dealer network.[1]
MTF Finance is one of the largest lenders in New Zealand with almost NZD $700m of loans on its books in 2019.[2]
MTF Finance has partnered with New Zealand's largest auction site Trade Me to offer finance on their consumer car listings.[3]
Business model[edit]
MTF Finance operates a recourse model where the dealer or franchise who writes the loan takes on the risk of recovery if the borrower can't repay.[4] Between 2016-2018 MTF Finance also ran a non-recourse model in partnership with the vehicle auction company Turners, who was responsible for arrears.[5]
References[edit]
- ↑ "MTF Finance - 50 years young". Retrieved 1 October 2020.
- ↑ "Non-bank Financial Institutions Performance Survey" (PDF). KPMG. Retrieved 1 October 2020.
- ↑ "MTF loses $83m of loan book in 2019". 10 January 2020. Retrieved 22 March 2021.
- ↑ "Turners strengthens ties with MTF by funding its first non-recourse loan product". Retrieved 22 March 2021.
- ↑ "MTF post-tax profits up 38%". Retrieved 22 March 2021.
External links[edit]
This article "MTF Finance" is from Wikipedia. The list of its authors can be seen in its historical and/or the page Edithistory:MTF Finance. Articles copied from Draft Namespace on Wikipedia could be seen on the Draft Namespace of Wikipedia and not main one.
