V12 Vehicle Finance has joined forces with City Auction Group in what is being hailed as a ‘game-changing partnership’ for the used car sector.
The agreement with V12 Vehicle Finance, which is a trading name of Secure Trust Bank, will let dealers find, fund and finance vehicles more quickly and efficiently, say the two business partners.
City Auction Group has a network of physical and digital channels, while V12 Vehicle Finance, which provides wholesale stock funding to buyers, offers benefits such as refurbishment costs up to £1,000 and the full hammer price including auction fees. Delivery charges and VAT on commercial vehicles can be funded in full as well.
V12 Vehicle Finance managing director David Mercer, pictured, said: ‘Because we’re part of the Secure Trust Bank family, we have the financial backing and stability to make our pricing, products and services work in harmony with City Auction Group’s vision.
‘Our customer-first culture will see us work in a collaborative partnership with City Auction Group to help drive their business to success.
‘Our highly experienced and friendly team, with a rich background from many areas in the used vehicle industry, look forward to working with such an esteemed organisation to deliver cutting-edge financial solutions.’
City Auction Group CEO Michael Tomalin said: ‘We’re delighted to be working in close partnership with V12 Vehicle Finance to improve and streamline our business processes.
‘Spanning strategic solutions and communication to expert delivery, we’ve been thoroughly impressed with V12 Vehicle Finance.
‘The superb team has worked tirelessly to understand our ambition and provide forward-thinking financial solutions to suit our customers’ needs. We can’t wait to continue our journey.’
He added: ‘The game-changing partnership with V12 will ensure we offer a swift funding solution to our established motor industry buyer partners across the UK at competitive pricing, to enable their business to develop by supporting our sale events by both physical and digital methods.’
- Rate your manufacturer and favourite suppliers in Car Dealer Power – it takes a few minutes to have your say here.
- Join our breaking news WhatsApp group. Broadcast only, no chit chat, and headlines to your phone. Send us a message and ask to join here.
- Download the latest digital edition of Car Dealer Magazine Issue 148 for free here.