Bumper, a payment specialist, have announced their intention to grow sales by a further £460m by the end of this year after achieving £500m in April. Some dealer groups who are now offering interest free loans to customers for car servicing through Bumper. Glyn Hopkin, Yeomans, Sinclair and Ancaster are among those offering the deal.

Initially launching as a Buy Now, Pay Later platform, Bumper has also added PayNow (including online card payments, Google Pay and Apple Pay) and PayPad options to become a full payment solutions provider.

Bumper report they are experiencing “rapid growth” in Europe and have forecast a doubling of repair volumes in Germany, Ireland, Spain and the Netherlands.

Car repair invoice values covered by Bumper are also increasing. In 2022, the average age of customer cars was 6.8 years with invoice values averaging £598, rising in 2023 to 7.6 years and £765. During the first quarter of 2024 this increased to 7.8 years and £768.

Invoice Values

“Although hitting £0.5bn worth of car repair invoice value is a significant milestone for Bumper, we expect to see an accelerated growth of that figure as the result of more franchised dealer groups joining our network in the UK and across Europe,” said Jack Allman, co-founder and Chief Commercial Officer of Bumper.

“Our rapid growth has been driven by consumers wanting a more affordable way to spread their repair costs without resorting to credit cards and incurring hefty interest charges.

“The ageing car parc and the rising cost of car parts is pushing up repair bills, so we’re empowering franchised dealers to help their customers spread the costs with our payment solutions. We’re working closely with our dealer partners to integrate Bumper into their dealer management systems to make repair payments as seamless and painless as possible,” said Allman.