Moneyshake, the car leasing comparison site which was only launched last month by a team of digital entrepreneurs, has agreed a deal with MoneySuperMarket to become an official partner platform.
The deal sees Moneyshake become the official car leasing platform for the UK’s largest price comparison site by revenue.
MoneySuperMarket enables consumers to compare prices on a range of products, including energy, car insurance, home insurance, travel insurance, mortgages, credit cards and loans.
Moneyshake was officially launched in September 2019 backed with investment from the Development Bank of Wales who invested £250,000 alongside serial entrepreneur Tim Scholes to help people find the best lease deals quickly by comparing prices from the UK’s leading providers. The founders say they are aiming for the brand to become synonymous with car leasing.
Car leasing continues to rise in popularity as people desire new cars more frequently and leasing is seen as the future of car ownership. Typical leases range between 18 and 36 months. Vehicles are handed back to the leasing providers at the end of a contract.
Research from the British Vehicle Rental and Leasing Association (BVRLA) reveals there are more than 5 million leased cars on the road in the UK. Last year, the consumer car market saw the highest level of growth in the leasing sector at 14%. The market is booming as people switch from a trend of ‘ownership’ to ‘user-ship’ on big ticket consumer items like cars, phones and homes.
Eben Lovatt, CEO of Moneyshake, said:
“Most adults in the UK have used a price comparison site to find a better deal and MoneySuperMarket is the biggest of them all. We are delighted to become its official partner in the fast-growing car leasing market. By working with a wide range of funders and brokers we are able to deliver a more transparent and simple way for people to assess the deals on offer in the UK car leasing marketplace.
“We are excited about working with MoneySuperMarket and our aim is to further enhance their customers’ experience.”
Rose Howarth, head of niche insurance at MoneySuperMarket, commented:
“We are delighted to be partnering up with Moneyshake in order to offer our customers competitive car leasing deals from a variety of brands. Collaboratively working with partners helps us to continuously improve the customer experience and ultimately deliver on our pledge to help households save money.”
Moneyshake recently appointed Manchester-based Sugar PR and award-winning creative agency Delineo to help ‘disrupt’ the UK car leasing market.
MoneySuperMarket is the UK’s leading price comparison website. It provides proactive and personalised services to help people manage, save and grow their money, by enabling them to compare and switch on over 40 products across Insurance, Money and Home Services, as well as monitor their credit score and manage their bills.
MoneySuperMarket is part of the Moneysupermarket Group, an established member of the FTSE 250 index, with 13 million active users. In 2018, we helped millions of families save an estimated £2.1bn on their household bills including insurance, energy, credit cards and loans, travel and TV and broadband.