Santander Consumer Finance (SCF) is launching a wholesale finance facility for selected dealers at auction group Aston Barclay.
The facility enables dealers to purchase stock at Aston Barclay’s six auction centres in person or online and then charge the cost to their wholesale facility with Santander.
Santander agreed a long-term remarketing contract with Aston Barclay last year to sell its used stock, which includes voluntary terminations and ex-PCP and PCH cars, at its Prees Heath, Shropshire auction
Andy Green, Santander Consumer Finance marketing director said: “We are always looking for new ways to further strengthen the support we provide to our dealer partners and the facility for Aston Barclay is an important development. It helps dealers with cashflow as well as streamlining the process of buying stock.
Martin Potter, group managing director at Aston Barclay, said: “Dealers are putting more energy and investment into their used car businesses in the light of falling new car sales and the Santander product will help them to buy more efficiently at auctions.”
Santander Consumer Finance, headquartered in Redhill, Surrey, employs 600 staff and is the UK’s leading independent finance company with over 500,000 live customer agreements in place.