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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.

AM100 2020 revealed: Webinar with special guests

The annual AM100 list of the biggest and best in automotive retail will be revealed at an AM100 webinar next week by AM and our new research and analysis partners, accountancy firm BDO.

Joining BDO's head of motor retail Steve Le Bas and AM editor Tim Rose to discuss the 2020 AM100 findings and the critical issues that motor retailers have been overcoming are three special guests from large AM100 groups are:

  • Darren Edwards, chief executive of Sytner
  • Stuart Foulds, chief executive of TrustFord
  • Peter Smyth, director of Swansway Group

The AM100 webinar is free to attend but viewable only by attendees who register.

Watch the recording now.

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