He said: “This has been a very good year for us. We have attracted a number of significant new customers, ranging from major dealer groups to specialist online providers, and have also driven much higher levels of business through existing relationships.

“This success has been driven by greater penetration in the market for our flexible motor finance concept and especially by the launch of our PCP product.”

The Startline PCP product is designed to be offered by dealers alongside products from traditional prime lenders and suggested as an alternative source of funding when applicants are declined. However, like the company’s other products, it offers APRs and terms similar to those offered by prime lenders rather than resembling a sub-prime product.

In 2018, Startline has also moved to new offices, which are more than twice the size of its previous premises, and has increased its headcount by 25% to around 90 people.

Paul added: “We certainly believe that we are in an excellent position heading into 2019. While the used car market is likely to continue to thrive, economic conditions will be unpredictable and our product offerings will be even more relevant.”