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V12 Vehicle Finance and City Auction Group form partnership

City Auction Group's Belfast remarketing centre

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.

AM webinar: The AM Motor Retail Review (Monday July 6 at 2pm)

This 45-minute webinar will discuss the UK motor retail industry’s achievements in the first month of trading since lockdown ended for England’s car dealers, including:

· June’s new car registrations and used car opportunities.

· The lessons learned from social distanced trading.

· How dealers balance the return to trading and their need to limit their costs.

· Prospects for Q3 and critical steps for success.

Chaired by AM editor Tim Rose, his invited guests will include senior executives of AM100 dealers, suppliers and OEMs, who’ll share their own experiences since lockdown ended and outline some ways dealers can sustain their business recovery.

Rose said: “This is a crucial moment for UK motor retail. The new car registrations data from the first month since lockdown will tell us how strongly the industry is fighting back, and there’ll be feedback on how customers and staff are coping with new processes and PPE in showrooms.

“The lessons of the last few weeks must help motor retail prepare for Q3 and the looming plate-change campaign.”

Guest speakers signed up so far:

Tim Duckers, Cambria Automobiles

Duckers is the motor division managing director of AM100 motor retailer Cambria Automobiles, working alongside chief executive Mark Lavery to lead a portfolio of franchised dealerships from volume mainstream such as Vauxhall and premium brands such as Jaguar Land Rover to high luxury brands such as Bentley and Rolls Royce.

Steve Le Bas, BDO

Le Bas is the head of motor retail at accountants and business advisers BDO. He has some 20 years’ experience working with motor trade clients, including statutory audits, assisting their internal accounting functions and conducting due diligence assignments for prospective motor trade purchasers.

Dale Wyatt, Suzuki GB

As head of automobile at Suzuki GB, Wyatt is responsible for the brand health of Suzuki cars and splits his time between working with the UK management team, Suzuki’s dealer network and the parent company in Japan.

Ian Plummer, Auto Trader

Plummer, commercial director at Auto Trader, joined the car sales platform in 2017 after heading sales operations and franchise management at Volkswagen UK and before 15 years at Renault in roles at both the UK sales company and the head office in Paris.

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