£10 million of stock with Supplier Direct Funding
Launching Supplier Direct Funding in December of last year helped us offer our dealers an innovative solution to their stock funding needs, and we’re pleased to announce that we now have over £10 million worth of vehicles funded!
That works out at about 1,000 used cars, stocked and ready to sell, making us one of the UK’s leading suppliers of used vehicle stock funding.
Chris Rowthorn, Head of New Business Operations, describes Supplier Direct Funding as “an exciting development for MotoNovo, providing our funded dealer partners with improved speed, convenience and flexibility when purchasing vehicles from Motonovo Finance Approved Suppliers.
“By improving cashflow and the ease with which dealers can source and fund stock, we’ve enabled a range of features and benefits which give Motonovo Finance a competitive advantage over peer lenders, combining the expertise of a market-leading motor finance house with the capability of a specialist stock funder to create a compelling and unique offering to the dealer market.”
What is Supplier Direct Funding?
Our Supplier Direct Funding solution helps our dealers access quality stock directly from trusted suppliers. Stock is purchased and automatically loaded to the APAK unit stocking plan, reducing admin time and helping make stock audits quicker and easier.
- Free up cashflow by paying at auction – funds are sent directly from MotoNovo with digital authorisation
- Save time with stock details automatically added - manual uploads become a thing of the past as automatic stocking streamlines the process and reduces admin time
- Manage everything in one place online – a fully digital solution brings stock funding into the digital world
- Sell one vehicle, fund another – improving turnover time and getting stock onto your forecourt quicker
