Used car dealer vehicle finance provider eyes the future

V12 Vehicle Finance (V12VF), which has hit three years in business is considering its next move as it celebrates posting £65.4 million in stock funding to used car dealers in 2021.

During 2020, it achieved £12.7 million. V12VF also reached another milestone when it broke the £150m stock funding finance barrier since its launch three years ago.

V12 Vehicle Commercial Director, said Ciara Raison,: “Our dealer feedback is that they really like how we treat them as individual businesses and can offer commercial solutions which match their business model. The easiest way to sum up how we help our dealers is that we save them money, we make them money, we save them time, we take away hassle and we give them peace of mind.”

According to Ciara, online sales and EVs are just two of the key developments in the marketplace that the company is planning for: “The pandemic has forced dealers to look at their models and service their customers remotely. This in turn has given customers confidence to buy online, a trend that is likely to increase. The timing for disruptor models such as Cinch and Cazoo has been advantageous for them in establishing their models.

“Fnally, there is an acceptance of government direction away from fossil fuels.
In order to win looking forward, lenders will need to be able to support these changes both in terms of their technology and culture.

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