MOTOR BODY REPAIR FINANCE (MBR)
This product was developed specifically for the motor body repair industry with the aim to improve the business’ cash flow. Finance is provided against the authorised insurance claim and is available for post clearance insurance invoices or for the procurement of automotive parts. Improved cash flow allows the business to buy parts, take on more work and to complete work faster.
This facility provides the motor body repair company with cash against repairs authorised and completed by corporates and approved insurance companies.
The repair company provides AAF with the authorised insurance quote, insurance invoice, the final costing and clearance certificate signed by the insured, whereupon AAF pays the repair company the invoice value less the finance costs.
The repair company therefore has immediate access to funds due by the insurance companies or corporates. AAF will collect the invoice from the insurance company.
The parts procurement product provides the motor body repair company with a facility that can be used to purchase the parts needed for an authorised insurance claim.
AAF will instruct the authorised parts supplier to deliver the parts and pays the supplier directly on POD and final invoice. The balance of the insurer invoice, less the finance charges, are paid to the motor repair company on completion of the repair.
AAF will collect the invoice from the insurance company.
DO I QUALIFY?
Find out if you qualify to apply for finance.