Driver1 has signed a two-year partnership with Cox Automotive, to provide cheap cars on flexible contracts to young drivers.
The new deal will see Driver1 buy more than 1,200 used vehicles per year, as well as utilising Manheim’s seller advance valuation services, offering trade-in cars through Manheim’s national auction centre network.
The digital start-up will take advantage of storage, smart repair and vehicle refurbishment, from Manheim Vehicle Solutions, with delivery and handover services from Manheim Inspection Services, and stock funding through NextGear Capital.
Tim Hammond, CEO of Driver1, said: “We’re excited to partner with Cox Automotive for our full wholesale to retail process.”
“Ours is the first product of its kind on the market, and we know that high quality of service at every stage is imperative to deliver on the customer experience we expect to offer through Driver1.”
Driver1 provides cars for young drivers on flexible PCP plans from £96-a-month. Cars can be ordered online and delivered within 48 hours. The vehicles are offered as part of an inclusive package that covers warranty, breakdown, MOT, and road tax but not insurance. Service plans are additionally available.
Gerry Whittington, head of central sales at Cox Automotive, added: “This is an exciting new partnership that really demonstrates how important it is for Cox Automotive to offer products and services across the full remarketing process.
“Driver1 offers many firsts for the online car industry, offering younger drivers an all-inclusive monthly subscription model. We look forward to delivering a seamless end-to-end service, and are confident that this partnership will grow as the Driver1 business develops.”