August 11 2004. Close Motor Finance has announced a new 2.99% interest rate offer throughout the month of September in time for new vehicle registrations.

James Broadhead, Sales and Operations Director of Close Motor Finance, said: "We are excited to offer this rate for the third year in a row, especially since economists predict that the Bank of England will announce a quarter-point interest-rate increase, to 5 percent, by November.

"Our objectives behind the campaign are twofold. We are aiming to encourage dealer loyalty for both existing and new dealers, and we are striving to keep our tremendous sales growth rolling."

Broadhead added: "Reduced interest rates or other incentives are initially introduced by vehicle finance companies as a temporary measure to jump-start sales, but Close is most interested in the on-going relationship with the dealer. We tend to do exceptionally well during our September campaign, but the long-term effects are even greater."