1:25 pm, September 19, 2016
DEALERS are moving away from traditional buying patterns to sourcing stock seven days a week, according to BCA Partner Finance.
The company says the trend is driven by better access to finance and the growth of online purchase channels.
Malcolm Thompson, managing director of BCA Partner Finance, said: ‘Traditionally, dealers would sell over a weekend and bank the money before looking to source replacement stock. The advent of funding solutions, like BCA Partner Finance, has freed the dealer to operate more efficiently and, with better liquidity, buy for the best deal to suit the business.’
BCA Partner Finance says its average length of a loan is currently 51 days, while the industry average for used stock turn is 54 days.
It helps independent car and LCV dealers secure incremental funding so they can expand their retail operations and was the first finance product to launch that was specifically designed for the UK remarketing sector.
Thompson added: ‘Customers value the simplicity of the service, which is helping them to purchase additional stock from the huge choice available at BCA. Dealers can use BCA Partner Finance to fund any auction purchase, whether they are making a speculative buy, sourcing a vehicle to order or expanding the range and scope of their stock profile.’
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