V12 Vehicle Finance, the new vehicle dealer stock funding and financing proposition from Secure Trust Bank, has signed its first dealer stock funding facility with Yorkshire Sports & Prestige Ltd.
The new stock funding product was opened to applications just two weeks after V12 Vehicle Finance, in strategic partnership with remarketing experts - Aston Barclay, was launched to provide everything dealers need to sell more used vehicles more often.
The Aston Barclay Stock Funding branded plan, powered by V12 Vehicle Finance, enables dealers to source and fund used cars and vans via Aston Barclay physical and digital auctions. The plan offers a single vehicle funded value ceiling of £50,000 for the independent dealer plan and £65,000 for the franchised dealer plan, a minimum funded value of £1,500 applies. Both plans offer financing up to 120 days.
Yorkshire Sports & Prestige Ltd T/A Direct Car Credit, based in Batley, West Yorkshire offers a range of quality used vehicles, many sourced from Aston Barclay.
The inaugural deal was concluded by director of Yorkshire Sports & Prestige Ltd, Shane Gardiner, at a recent auction held at Aston Barclay's state‐of‐the‐art Wakefield 'Northern Powerhouse' site with V12 Vehicle Finance's regional account manager, Jodie Waddington.
Shane said, 'It's great to be the first dealer onboard with this innovative, new proposition. I was absolutely delighted with the speed of the process from application through to approval and have been highly impressed by the levels of communication and service to date from all in the V12 team. I now can't wait to get going and start putting vehicles on the new stock funding facility.'
David Mercer, managing director, V12 Vehicle Finance, said, 'It is fantastic to welcome Shane onboard as the first dealer to be utilising the Aston Barclay Stock Funding proposition, powered by V12 Vehicle Finance - it's great working with such a forward‐thinking business and I wish Shane and his team every success.
'As a team we are engaging with dealers across the UK and initial feedback has been extremely supportive. We now look forward to continuing to develop these relationships further and welcome many more dealer partners onboard.'
Dealers signed up to the V12 Vehicle Finance wholesale proposition will be able to source and fund used car and van stock through Aston Barclay's network of physical and digital channels via its Buyer's App.
V12 Vehicle Finance's customer finance products are tailored to suit both prime and near-prime customers and include products to help dealers service and repair operations improve sales.
Article published in bodyshopmag