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Toyota financial services signs solus Manheim contract

Manheim Auctions has signed a solus agreement with Toyota Financial Services UK (TFS) to dispose of its finance repossessions and voluntary terminations.

Vehicles will be disposed by Manheim through its Rotherham, Washington and Birmingham auction sites, while all LCV’s are directed through Manheim Haydock.

TFS’s disposal requirements will also be handled by Manheim, from collecting cars to cleaning and refurbishing them before they are put under the hammer.

A new electronic inspections service is being piloted by TFS for Manheim, where vehicles are inspected for any damages on arrival.

Martin Potter, Manheim Auction’s corporate sales director, says: “With the current growth in the Toyota and Lexus market share, the numbers of cars coming back into the used market will grow.

“We are working closely with TFS to help manage this process and maximise residual values.”

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