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Heycar gives dealers more breathing space as it doubles length of payment terms

Time 3 weeks ago

Heycar is giving dealers extra breathing space as they reopen by doubling the length of its payment terms to 60 days until July 1.

It follows a number of initiatives from the online car marketplace during lockdown and comes ahead of an expected record April for the trade.

Chief commercial officer Karen Hilton said: ‘There’s no escaping that lockdown has been bruising for the used car market.

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‘The closure of showrooms has deprived the trade of vital income, particularly during a traditionally bumper month like March.

‘But a 13 per cent month-on-month rise in stock flowing through Heycar during March and an increase in organic site traffic of 80 per cent point to April looking very positive for the trade.

‘Accordingly, we want to ensure dealers are free of distractions as they welcome back customers for the first time this year.

‘Doubling our payment terms to 60 days gives dealers peace of mind and reassurance that they can devote more of their energies to their top priority – selling motors.’

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Heycar saw what it called ‘a significant spike’ of platform activity ahead of showrooms reopening.

Its free delivery scheme of last November saw dealers who fulfilled a delivery request for a customer having up to £499 of their expenses reimbursed.

Then, in February, every customer who activated its concierge service qualified for a £50 prepaid fuel card.

John Bowman

John has been with Car Dealer since 2013 after spending 25 years in the newspaper industry as a reporter then a sub-editor/assistant chief sub-editor on regional and national titles. John is chief sub-editor in the editorial department, working on Car Dealer, as well as handling social media.

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