V12 Vehicle Finance has partnered with Click Dealer to provide a “frictionless” used car wholesale and retail experience for independent and franchised dealers.
The system has been designed to provide an integrated platform to increase dealer profitability through time, cost and administrative efficiencies.
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The platform is reportedly the first in the sector to create an end-to-end used car technology proposition which covers sourced cars, wholesale stock funding and a multi-tier consumer finance offering.
Gerry Moxham, chief visionary officer and founder of Click Dealer highlighted the difficulties presented over the years in integrating disparate systems.
“Over the years we have constantly been facing an uphill struggle integrating disparate systems. Automotive retail, and used car retail and non-used car retail, its synonymous with multiple systems,” he said.
“It is not unusual for some of our dealers before they use click dealer to have to have multiple different systems to do a transaction from end to end. That transaction would be from acquiring the vehicle from a source all the way through its funding its preparation, its advertising for retail, through to the actual retail event and the handover of the vehicle to the client,” he added.
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By GlobalDataGoing through multiple channels was a source of frustration for dealers, which the new platform aims to eradicate.
The new platform called ClickStock offers dealers access to thousands of used vehicles for sale from independent auction companies. Dealers can source vehicles at all participating auctions, with pre-sale and buy-now stock which is visible to bid on at all times.
Once the vehicle sits with the Click Dealer platform, dealers can upload wholesale stock into their own website for sale to consumers, supported by imagery and descriptions.
Moxham said online selling has interrupted the sector and this has shifted the focus point for a vendor like Click Dealer, stating: “Online selling has started to interrupt so for a vendor like ourselves who have really focused on improving our dealerships performance, we don’t just want to rent someone some tech and walk away. We are so into making that dealership perform better.
“Working with someone like V12 has been a breath of fresh air for us because we now can offer a seamless journey all the way from acquiring the car and funding the car, all the way through to retailing the car and for us as a company it has meant we could accelerate our vision of a frictionless journey.”
V12 has also launched a new trade and forecourt wholesale stock funding plan for part exchange and trade source vehicles. The plan provides a single funded value ceiling of £50,000 for independent dealers and £65,000 for franchised dealers on 120-day funding terms.
When a dealer buys a used vehicle via the ClickStock portal, a part exchange from a consumer or a vehicle from the trade, is electronically transferred into the Click Dealer platform with one click.
These vehicles can then be funded via V12 Vehicle Finance’s range of wholesale stock funding options.
David Mercer, managing director of V12 Vehicle Finance, said: “Our partnership began by looking at how we could integrate Click Dealer platform processes and systems with our stock funding and consumer finance proposition. Our joint vision is to take friction out of all dealer processes to provide confidence and value to dealers, as well as benefit the consumer customer journey.”
