Oxford-based car finance company Oodle Car Finance has announced a ‘green’ launch sale event to commence a new remarketing contract with G3 Vehicle Auctions.

G3 Vehicle Auctions now has the full responsibility of collecting and remarketing Oodle vehicles through its £12m auction centre.

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Philip Williams, managing director at Oodle Car Finance, said: “We have built a great relationship with G3 over the last 18-months and we have been impressed with not only their performance, but also their service-levels during what has been a highly-unusual period for everyone.

“G3’s move to their new auction centre this year has seen their business escalate at a rate similar to ours and we are delighted to put an agreement in place to cement the partnership further.  G3 have a unique focus on maximising the return on our stock via physical sales, whilst their national collection network has decreased our days to sell, both of which are key performance metrics for Oodle”.

To celebrate the new partnership, G3 will rename their red lane to the ‘green lane’ for a one-off launch event on Tuesday 7 September. There will be over 150 Oodle vehicles on offer at their G3 Castleford centre, and more stock going through their sale lanes every Monday, Tuesday and Thursday.

Since Oodle was established in 2015, it has funded £1.4bn to over 147,000 customers, offering tech-led car finance solutions to both dealers and consumers.

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G3 Vehicle Auctions opened its 14-acre Castleford site in January, with a launch event attended by vendors such as Tesla, Blue Motor Finance, John Clark Motor Group, Zenith, Avis and Liquid Fleet.

Matt Dale, co-owner and director at G3, added: “We are delighted to add yet another large motor finance partner to the roster at G3.  The award of a formal contract on the back of the results we’ve achieved with Oodle only strengthens our proposition as the ‘go-to’ solution for UK finance houses.  Our buyers love their stock profile, and with plenty of exciting developments in the pipeline for Oodle, we are all looking forward to the launch of the next phase of our relationship in the coming weeks.”