New name and ambitions for car loans firm
ACAR finance specialist has revealed its new identity and details of a £15m investment programme.
Carloans4u, which is based in Macclesfield where it employs more than 250 people, will now be called Zuto.
The move comes after the firm announced it was creating 50 jobs by opening a new Manchester city centre offices.
Zuto was founded in 2006 and is headed by former professional footballer James Wilkinson. It helps customers scan the best deals for car finance, as well as providing the vehicle-finding service.
Chief executive James said: “When we started out in 2006, we wanted a functional name that described accurately what we did.
“Carloans4U worked perfectly. However as time has moved on, so have the services that we offer.
“Buying a car can often be a stressful experience because there are a lot of unknowns. We don’t just help in finding a finance solution, we also offer a car finding service, free vehicle history checks, free valuations and help with the paperwork and it is these services that reassure customers.
“No one else is doing this and the name Zuto offers us a real point of difference, just like our services.
“Zuto offers a blank slate for us to set about our ambitions for the future. We’ve grown 100 per cent year-on-year in the last four years and in the coming year will be investing over £15m in our marketing to continue to grow our business.
“Being only four letters also helps enormously with customer recognition as we found out in extensive customer research.”
Announcement of the rebrand follows the company’s recent expansion into central Manchester, opening a brand new 6,465 sq ft office and creating 50 new jobs in addi- tion to its 12,000 sq ft at Winterton House, on Lyme Green Business Park.
The business is on course to grow sales to £23m this year.
Zuto will create its first television advertising campaign and has been working with Why Projects and Creative Spark on the new identity.
James added: “We want to make a real dent in the industry, educating car buyers so that they can take complete charge of what is one of the biggest purchases they may ever make and make Zuto into a household name.”
●● Zuto chief executive James Wilkinson