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Auctioneer Shoreham is first to go live with online funding platform

Shoreham Vehicle Auctions (SVA) has today become the first UK auction company to go to market with an online platform allowing their dealers to fund vehicles through NextGear Capital UK.

The inventory management system (IMS) designed by Kingfisher Systems, is already in use with many dealers and has been further developed to allow dealers to fund their vehicles online in just one click.

Dealers who are customers of both Shoreham Vehicle Auctions and NextGear Capital can opt to fund the vehicle on their NextGear Capital stocking plan online without needing to speak to anyone at either business, just by clicking the payment button on their ‘My Shoreham’ system at anytime in the day.   

Alex Wright, Shoreham Vehicle Auctions' managing director, said: “Time is a valuable commodity in 2014 and we have worked together with NextGear Capital and Kingfisher to develop this online offering to our dealers allowing them to concentrate on their customers and being able to stock more and sell more.  Knowing a dealer has paid for a vehicle is very important to an auction house and this facility will further improve our back office processes.”

David Mercer, managing director of NextGear Capital, said: "Having started working with Shoreham, which became our first independent auction partner in May 2014, we have seen a high level of interest from their dealers and believe this addition to the services Shoreham Vehicle Auction offer will result in a dramatic growth in their online presence and customer satisfaction. 

“Our business was founded on being at the technological forefront of the industry with ease of use for dealers as the main driver.  Our partnership with Kingfisher and Shoreham is evidence of our approach and we are planning further innovation for the months ahead.”  

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