DEMAND FOR STOCK FUNDING TO PAY FOR TOP USED CARS IS ON THE UP, SAYS FINANCE FIRM

cent rise in dealers with access to its stock funding product and a 27 per cent increase in the number of dealers active in using the product.

Many auction houses have brought in promotions to try to combat the knock-on effects of the cost-of-living crisis, it said.

which are squeezing cashflow for many.

That’s according to V12 Vehicle Finance, which says a rise in promotions is causing competition at auction houses to rise.

V12 is reporting a 109 per cent annual growth in stock funding revenue, a 17 per

As well as the rise in vehicle prices driven by a lack of supply, independent dealers are also under pressure to manage rising overheads and growing infrastructure demand such as installing forecourt EV chargers – both of

V12 said that having previously been wrongly seen as a product exclusively for cash-poor dealers, it was seeing a growing interest in stock funding from car dealers who were simply looking to act quickly after finding quality stock or those looking to free up cash for other business investments.