TWO divisions of the BNP Paribas Group in the UK – BNP Paribas Personal Finance and car leasing specialist Arval – are joining forces to launch a new stock financing service for UK motor dealers.
Dealerships can now buy and finance their used stock in one transaction directly through Arval’s online sales platform MotorTrade.
The tie-up lets dealers spread 100 per cent of the purchase cost inclusive of fees over flexible, phased repayments of up to 120 days. The one-stop solution also makes it easier for dealerships to increase their stock levels, manage their cashflow and plan their expenditure levels, said the group.
It is all backed by the BNP Paribas Group, with funding applied to the account automatically for vehicles bought through the stock funding option. All information relating to the purchase, such as invoices, statements and payment schedules, is available to view on any connected device through an online account.
Arval’s MotorTrade platform offers dealerships direct online access to around 45,000 ex-lease vehicles each year from a range of manufacturers with competitive buyers’ fees and no middlemen.
Andrew Brameld, managing director of BNP Paribas Personal Finance’s motor finance business in the UK, said: ‘We’re delighted to be partnering with Arval to deliver this industry-leading stock finance solution. We’re sure dealers will find this to be a useful tool as they manage and finance their stock levels.’
Gary Burns, remarketing director at Arval UK, added: ‘This partnership further enhances our MotorTrade proposition, making it even easier for buyers to access the stock they need, while giving them the confidence they have a finance plan in place that they know they can trust.’