Manheim has signed up to NextGear Capital UK as the first UK auction partners for its new 'stocking plan' for used vehicle dealers.
Its Leeds centre sold the first cars on the new plan to Stoke-on-Trent-based independent dealer Strongford Garage.
Dale Hodgkinson, the owner of Strongford Garage, said: “The 'stocking plan' is certainly going to help my business stock and sell more used cars. It gives me the freedom to run and grow my business without the worry of waiting for payment for sold cars before we can buy more stock."
All the Manheim sites are being rolled out over the coming weeks as NextGear Capital starts delivering against its target of funding 100,000 used vehicles for dealers over the next 12 months.
The NextGear Capital 'stocking plan' provides a way to buy and manage stock, freeing up cash and improving management of purchases and payments.
Developed for used vehicle dealers, it is available through partner auction houses' wholesalers, for trade deals and part exchange.