V12 Vehicle Finance has secured a partnership with City Auction Group in a bid to provide car dealers with a seamless used vehicle stocking proposition.
Joining forces with V12 Vehicle Finance will see City Auction Group help dealers to source, fund and finance vehicles faster and more efficiently, it said in a statement issued this week.
Providing wholesale stock funding to City Auction Group’s buyers, V12 Vehicle Finance solutions provide key benefits such as refurbishment costs up to £1,000, 100% of the hammer price including auction fees, delivery charges and VAT on commercial vehicles can be fully funded.
The partnership will enable dealers to locate stock through the auction group’s network of physical and digital channels, including City Auction Group’s new app.
David Mercer, managing director at V12 Vehicle Finance, said: “As we’re part of the Secure Trust Bank family, we have the financial backing and stability to make our pricing, products and services work in harmony with City Auction Group’s vision.
“Our customer-first culture will see us work in a collaborative partnership with City Auction Group to help drive their business to success.”
Michael Tomlin, group chief executive officer at City Auction Group, said: “The game-changing partnership with V12 will ensure we offer a swift funding solution to our motor industry buyer partners across the UK at competitive pricing to enable their business to develop by supporting our sale events by both physical and digital methods.
“Spanning strategic solutions and communication to expert delivery, we’ve been thoroughly impressed with V12 Vehicle Finance. The superb team has worked tirelessly to understand our ambition and provide forward-thinking financial solutions to suit our customers’ needs.”
Earlier this year (January), V12 Vehicle Finance formed a partnership with Click Dealer to tackle dealer pain points.