Used car dealers are being blitzed with new IT hardware and software to an extent that used car dealers' efficiencies could be impacted when adopting new technology. That's according to V12 Vehicle Finance.
As part of its road map to develop and launch its used stock funding, dealer stocking and consumer finance proposition, the V12 team researched the sector to locate best‐in‐class technology.
It discovered numerous new pieces of technology from entrepreneurial start‐ups and large established brands, developing everything from apps to full Dealer Management Systems.
Most technologies were being developed in isolation, with dealers experiencing multi‐logins and systems that can ultimately cause extra effort during the daily administration of their businesses.
The V12 Vehicle Finance vision is to provide used car dealers with an integrated mix of wholesale and retail finance products to help them sell more used cars by combining its own industry research, and parent company Secure Trust Bank's 11 years of motor finance heritage.
"Our aim from the outset was to make the user experience as dealer friendly as possible, right from logging into systems to integrating with other parts of their business software. By working with our supplier partners from day one on product software development and integration, we have been able to broaden our dealer product offering at the same time as saving time and creating efficiencies across all areas of their stock funding, stock sourcing and customer financing supply chain," explained David Mercer, managing director of V12 Vehicle Finance. "Our 12‐month process of developing our proposition definitely showed us that too much new technology is not always a good thing for dealers," he added.