The launch coincides with the 100th year of the Vardy family’s presence in the UK automotive industry and follows a 200% annual rise in successful car buyer transactions.

CarMoney aims to simplify the financing process using user-friendly technology and collaborations with brands such as Autotrader and Motors.co.uk.

CarMoney’s managing director of franchising and international growth, Robert Lujan, believes the company is “perfectly positioned to shake up” the “traditional” Australian financing market.

Stuart Mackay, a former Vardy Group employee, will be the chief executive of the Australian operation, which aims to have up to 15 members by the end of 2023 and 20 by the end of the following year.

Mr Mackay said: “To join the Vardy family again, by launching CarMoney here in Australia in what is the family’s 100th year in the automotive business, is an absolute privilege.”

Peter Vardy, CEO of Peter Vardy Ltd, plans to visit the Perth operation in April/May 2023.

Mr Vardy added: “It is very exciting for us to be making our first step overseas in Perth, Western Australia, not least because it was in Perth, Scotland, that we opened our first dealership in 2006.

“We know that CarMoney offers a great service that will enhance significantly the experience of Australian consumers in buying a new car, and we are delighted that in Stuart we have a first-class colleague who knows the automotive industry better than anyone.

“We are confident that, once they get to know about us, the great Australian public will like what we have to offer.”