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Last checked at 
26 Jun 2009 07:00
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26Β JuneΒ 2009
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S & U PLC ("S&U" or "the Company")
UKΒ ScrappageΒ SchemeΒ Partnership
S&U, Britain's foremost niche home credit and motor finance provider, today announces that its subsidiaryΒ Advantage Finance LtdΒ ("Advantage")Β hasΒ entered into an exclusive partnership with StoneacreΒ Motor Group,Β which has over 20 branches across the UK.Β Under the schemeΒ AdvantageΒ willΒ provide finance for car owners wishing to take advantage of the UK Government's scrappage schemeΒ by buying a car from a Stoneacre dealership.
The UK Government's scrappage scheme is designed to encourage the sale of new vehiclesΒ by providing a Β£2,000 part exchange allowance for old cars. However, many potential car ownersΒ are unable to participate due to not having access toΒ theΒ funds needed to cover theΒ remaining balanceΒ of the cost of a new car orΒ asΒ they may not qualify for manufacturers'Β own financingΒ deals.Β
Guy Thompson, Advantage's Managing Director, said:
"AdvantageΒ will support theΒ scheme by providing finance, to customers purchasing from Stoneacre, using theΒ old carΒ to be scrappedΒ as aΒ depositΒ on loans upΒ toΒ a maximumΒ valueΒ ofΒ Β£6,000."
Cars currently available under the scheme include models from Renault, Fiat, Kia, Hyundai, Ford, Peugeot, Citroen, Daihatsu, Suzuki, Seat and Chevrolet.
For further informationΒ aboutΒ Advantage and Stoneacre:
www.advantage-finance.co.uk
www.stoneacre.co.uk
Anthony Coombs, Chairman, commented:
"Advantage is delighted to support theΒ Government's newΒ scrappage schemeΒ in partnership with Stoneacre. This offer will allow many people to take advantage of the new scheme and the allowances on offer even if they fail to qualify for manufacturer'sΒ finance deals".
For further information, please contact:Β
Β
S&U plcΒ www.suplc.co.ukΒ
Anthony Coombs, ChairmanΒ 0121 705 7777Β
Β
Β
Charles Stanley SecuritiesΒ
Mark TaylorΒ /Β Freddy CrossleyΒ 020 7149 6000Β
Β
Β
SmithfieldΒ
Reg Hoare /Β Rebecca Whitehead 020 7360 4900Β
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