Secure Trust Bank hopes to bring more independent and small franchised dealers on board after launching a new proposition blending wholesale finance, stock sourcing and consumer finance for car purchase and repairs.
NextGear Capital has appointed Simon Baldwin to its leadership team as operations director.
Blue Motor Finance has launched a new tailored stock lending product to support small independent motor dealers.
Evolution Funding has secured investment to support its expansion from mid-market private equity investor LDC, which will take a significant minority stake.
Additional used car stock is part of the 2019 business plan of 52% of car retailers during 2019 – as 65% target growth in the sector.
A survey conducted by NextGear Capital and Cox Automotive has revealed that more than half of used car retailers use a stock funding facility to fill their forcecourts.
Nextgear Capital has said that a used car stock funding is poised for further growth as dealers look to “boost their buying power” amid rising values and a rush for stock.
This short film from NextGear Capital looks at how car dealerships can find and fund great used vehicle stock.
NextGear Capital has provided £50million in stock funding to hundreds of UK dealers thanks to a partnership with Dealer Auction.
NextGear Capital has launched the ‘first mobile wholesale funding platform’ enabling dealers to manage stock on-the-go.
NextGear Capital has marked the milestone of 200,000 vehicles funded since it launched in 2014, hailing the stock funding business’s growth as “outstanding”.
Cox Automotive claims that a mixed market in October has resulted in an increase in retail and stock funding sectors as wholesale divisions continue to show signs of slowing down.
Santander Consumer Finance is beginning a full national rollout of a wholesale stock funding facility for dealers at Manheim Auctions.
Motorpoint could be poised for a £240 million stock market float as soon as the end of the week.
Stock funding provider Next Gear Capital has said dealers’ used car buyers are becoming increasingly “discerning” stock condition.
Automotive Management Live: Where franchised and independent dealers will find everything they need to know about operating a modern showroom and service and repair facility fit for the digital age.
When: November 7 2019
Where: Birmingham NEC
Find out what features are in this month's, and future, issues