BCA Partner Finance launches part-exchange funding

Time 9:49 am, May 2, 2017

FOLLOWING a successful national trial, BCA Partner Finance is launching a new service for part-exchange vehicles.

It is designed to provide dealers with additional working capital and help improve cashflow and profitability.

The service is delivered through BCA’s Dealer Pro platform which allows dealers to appraise a vehicle and be automatically provided with the BCA MarketPrice, a real-time view of the trade price, before applying for funding.

Malcolm Thompson, managing director of BCA Partner Finance, said: ‘A lot of work has gone into making this service as easy as possible for the user.

‘Now, with a single application, a dealer can appraise a vehicle, receive the BCA MarketPrice and secure funding for the vehicle, while the customer is still on site.

‘It creates a unique stock-management solution for the market. The Dealer Pro platform enables dealers to monitor stock levels, refresh valuations and decide which vehicles to remarket through BCA.’

BCA Partner Finance helps dealers secure funding to allow them to expand their retail operations. It was the first finance product to launch that was specifically designed for the UK remarketing sector.

It has grown to support over 1,300 dealers buying vehicles from an auction, both physical and online, with 120 days finance to prepare and market the vehicle before the vehicle payment is due, freeing up capital and improving cash flow.

Colin Bacon, managing director at  Junction 17 Cars of Peterborough, said: ‘BCA Partner Finance gives us the freedom to compete on a level playing field with the bigger national groups when it comes to buying power.’

More than 42 per cent of dealers surveyed by BCA for the Used Car Market Report suggested they would expand their premises if they had the funds to do it.

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Dave Brown's avatar

Dave, production editor on Car Dealer Magazine, is a journalist with more than 30 years' experience in the worlds of newspapers, magazines and public relations.

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