Firm aims to rev up car financing

The car loans market has a new player after First Citizen Finance announced it will finance car purchases through motor dealerships across the country.

The company is led by the former chief executive of Permanent TSB Finance Limited, Chris Hanlon, and has a number of international lenders backing it, including Deutsche Bank.

First Citizen was formed 12 months ago by Mr Hanlon and colleagues from the former management team of Permanent TSB Finance with the aim of entering the car finance market.