Lender V12 Vehicle Finance has joined forces with Eastbourne Car Auctions and CD Auction Group in an expansion of its stock funding partnerships.
The Solihull-based firm provides prime and near-prime motor finance for independent and franchised dealers, and the new agreements take its tally of stock funding partners to eight, with plans for even more this year.
V12 Vehicle Finance managing director David Nield, pictured, said: ‘We work with a range of business partners to support our aim of helping dealers to sell more vehicles, more often and we’re delighted to be welcoming Eastbourne Car Auctions and CD Auction Group to our growing list of stock funding partners.
‘As with everything we do, our options are designed with dealers front of mind.
‘Our goal is to ease the burden of cash flow with 120-day financing, create simple payments with maximum transparency, and operate via a simple portal that provides flexible stocking options quickly and easily so that dealers never miss out on a great deal.’
V12 Vehicle Finance said the new partnerships followed the success of its prime hure purchase product launch earlier this year and a successful first quarter, consolidating its position in the used car finance market even further.
Corby-based CD Auction Group was established in 1989 and operates purely online.
Eastbourne Car Auctions, meanwhile, started life in 1967 and sells cars and vans for franchised dealers and companies via physical sales and online.
Independent dealers have a single-funded value ceiling of £50,000, while franchised dealers can access up to £65,000, with 100 per cent of the hammer price on cars and LCVs plus auction and delivery fees.