As we eagerly anticipate the upcoming Motor Trader Industry Awards 2023, taking place on 22 November at the Grosvenor House Hotel in London, we want to share one of the many reasons as to why we have been nominated for Finance Provider of the Year.
As more independent used car dealers are seeking ways to streamline their operations, here at V12 Vehicle Finance (V12VF), we understand the importance of the role digital technology plays. With a powerful hub of products and technology-led partners, we are continually striving to make it easier to source, buy, sell, and finance car dealer stock.
Throughout the past 18 months, we have crafted solutions that do just that, most notably through launching our Prime PCP product in September 2022 to further enhance our product range. In doing so, we integrated our product with a wide range of digital finance solution platforms across the UK. This enables used car dealers up and down the country to access our indispensable products and services, helping to resolve motorists' challenges with sourcing car dealer finance.
Prime PCP with V12VF has been designed to make quick decisions which consequently provides fast payouts. We are proud to acknowledge that rapid dealership adoption of our Prime product led to it constituting 24% of our total lending in 2022.
Our Managing Director, Julian Hartley, added: "We are always on the lookout for ways to improve products and services we offer to independent used car dealers. As the cost-of-living continues to squeeze people's disposable incomes, we know that access to used car finance will become an even more integral component to dealers and helping them make the sale and getting prospective customers into cars. This then has to be backed by quick, automated decisions facilitated through smart technology.
"To be nominated for Finance Provider of the Year is a credit to the fantastic work our team has done throughout the last year and beyond. Our determination to transform how dealers run their business is reflected through the success of our Prime PCP product, supported by our unique PCP methodology, which we hope will continue to make the lives of independent used car dealers much easier."
Our friendly and experienced team is highly skilled in ensuring that dealers are able to fully satisfy their customers' demands, and we will continue to pride ourselves as an innovative figure in an increasingly competitive marketplace.
Look out for our next blog where we'll be talking more about how we came to be nominated and check out our News Hub to stay up to date with the latest motoring and car dealer and car finance news.