A PARTNERSHIP has been launched between V12 Vehicle Finance and Click Dealer that aims to give independent and franchised dealers a frictionless used car wholesale and retail trading experience.
Both companies have combined an identical business philosophy to develop new systems that deliver an integrated platform to increase dealer profitability through time, cost and administrative efficiencies.
It’s being hailed by them as the first time the sector has had an end-to-end used car technology proposition that covers sourcing used cars, wholesale stock funding and a multi-tier consumer finance offering. These were all identified as key pain points for dealers and have been resolved, say the firms, through their close co‐operation and investment in new technology.
Alongside the partnership announcement, V12 Vehicle Finance has also launched a new Trade and Forecourt wholesale stock funding plan for part-exchange and trade-sourced vehicles. It provides a single-funded value ceiling of £50,000 for independent dealers and £65,000 for franchised dealers on 120-day terms.
David Mercer, pictured left, managing director of V12 Vehicle Finance, said: ‘Our partnership will help address every dealer’s challenge of locating and buying used stock more efficiently and then converting the car into a retail sale whatever their customer’s credit profile, while working within FCA compliance regulations. Our dynamic new online proposition sets new standards of excellence for the dealer community.’
Gerry Moxham, pictured right, Click Dealer’s chief visionary officer, said: ‘We have relationships with over 1,600 independent and franchised dealers and we know how their businesses work in microscopic detail.
‘Ultimately, we have streamlined systems and processes to take away the pain points experienced in sourcing, stocking, selling and financing used cars as well as running their dealership businesses more efficiently.
“Dealers will reduce stocking days, sell more used cars and underwrite more finance business, which has to be good news for the industry.’