BCA Partner Finance has launched a new service to allow car dealers to apply for funding for part-exchange vehicles.
Following a successful national trial, the new service will be delivered through the BCA’s Dealer Pro Platform.
The company said the new platform would give dealers additional working capital that would help them improve profitability and cashflow.
The BCA’s Dealer Pro platform allows car dealerships to appraise a vehicle before being automatically provided with the BCA MarketPrice, which gives a real-time view of the trade price, before applying for funding.
Malcolm Thompson, managing director of BCA Partner Finance, said: “A lot of work has gone into making this service as easy as possible for the user.
“Now, with a single application, a dealer can appraise a vehicle, receive the BCA MarketPrice and secure funding for the vehicle, while the customer is still on-site.
“It creates a unique stock-management solution for the market. The Dealer Pro platform enables dealers to monitor stock levels, refresh valuations and decide which vehicles to remarket through BCA.”
BCA Partner Finance supports dealers in securing funding, allowing them to expand their retail operations. Today the service supports more than 1,300 dealers buying from physical and online auctions, with 120 days finance to prepare and market the vehicle before the vehicle payment is due. This frees-up capital and boosts cashflow.
Participating dealer Colin Bacon, managing director at Junction 17 Cars in Peterborough, said: “BCA Partner Finance gives us the freedom to compete on a level playing field with the bigger national groups when it comes to buying power.”