heycar is extending the support it provides dealers as showrooms reopen by doubling payment terms to 60 days until the end of Q2.
It will see payment terms extended from 30 to 60 days until July 1st, providing dealers with welcome breathing space as they reopen as part of the Government’s plan to ease lockdown restrictions.
Karen Hilton, chief commercial officer at heycar, said: “There’s no escaping that lockdown has been bruising for the used car market.
“The closure of showrooms has deprived the trade of vital income particularly during a traditionally bumper month like March.
“But, a 13% month-on-month rise in stock flowing through heycar during March and an increase in organic site traffic of 80% point to April looking very positive for the trade.
“Accordingly, we want to ensure dealers are free of distractions as they welcome back customers for the first time this year.
“Doubling our payment terms to 60 days gives dealers peace of mind and reassurance that they can devote more of their energies to their top priority – selling motors.”
Ahead of showrooms re-opening, heycar reported a significant spike in activity on its platform.
heycar introduced a free delivery scheme in November, which saw dealers that fulfilled a delivery request for a customer having their expenses of up to £499 reimbursed.
That was followed in February by a deal where every customer who activated heycar’s concierge service qualified for a £50 prepaid fuel card.