Santander Consumer Finance will offer a wholesale finance facility at Aston Barclay sites.
The new finance proposition enables selected dealers to purchase stock at Aston Barclay’s six auction centres in person or online and then charge the cost to their wholesale facility with Santander.
The initiative is expected to improve turnaround on vehicles purchased through Aston Barclay as well as enhance cashflow management for dealers.
Andy Green, Santander Consumer Finance marketing director, said: “We are always looking for new ways to further strengthen the support we provide to our dealer partners and the facility for Aston Barclay is an important development. It helps dealers with cashflow as well as streamlining the process of buying stock.
“We have also been very impressed with the service and interest in our used stock under the existing remarketing contract with Aston Barclay.”
Martin Potter, group managing director at Aston Barclay, said: “Dealers are putting more energy and investment into their used car businesses in the light of falling new car sales and the Santander product will help them to buy more efficiently at auctions.”
Santander awarded a long-term remarketing contract to Aston Barclay last year to sell its used stock, which includes voluntary terminations and ex-PCP and PCH cars, at its Prees Heath, Shropshire auction.