V12 Vehicle Finance (V12VF) - powered by Secure Trust Bank - has reached a major finance milestone after providing £50million worth of stock funding for independent and franchised car dealers across the UK.
The company launched its stock funding solution to the market in June 2019 to help dealers source stock and finance used vehicles. Reaching £25million worth of funding in March this year, V12VF has doubled its loan value in just five months, showcasing the popularity and success of its offering, which is a great milestone particularly during a pandemic.
To provide an agnostic approach for dealers, V12VF works with a wide range of auction partners to identify the best options to help clients achieve their ambitions of selling more used vehicles, more often. The uniqueness of our product is also that dealers can decide how they would like to fund their vehicles via various options ie Trade, Auction and Part Exchange.
Currently working with eight auction partners including Aston Barclay, Wilsons Auctions, City Auction Group, Central Car Auctions, Shoreham Vehicle Auctions, The Fleet Auction Group, Eastbourne Auction Group, CD Group Auction Group, the vehicle finance brand has ambitions to further expand.
It has also recently teamed up with Car Auction Search, a new online vehicle auction platform which will allow dealers to access thousands of vehicles from participating auction houses across the UK.
Tim Maffey, Finance Director at V12 Vehicle Finance said: "Reaching £50million worth of stock finance is a huge milestone for us. We've now got our sights firmly set on growth. We want to continue to provide a complete range of auction partners and wholesale sources for our dealers to make sourcing and financing used vehicles even easier.
"Our dedicated Stock Funding team is made up of industry experts who have a wealth of experience working with major car finance brands. Keeping up to speed with the latest industry developments and trends, our account managers are committed to keeping our dealers on the front foot."