By Will Sturgeon, 25 October 2001 08:40
NEWS Lloyds TSB has taken a step away from selling traditional financial products to start selling new and used cars online. Previously the bank was the market leader in point of sale finance as a result of a series of contracts with dealers, but it has now become the first bank to cut out the middle-man and sell cars itself, while also providing the financing resulting from the sale. The scheme is being rolled out as a pilot at the moment, but if successful it is likely to be extended to branches in the future, though all sales will be conducted via a central call centre, according to the Financial Times, to avoid the cost of putting a car expert in every branch.
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