Hitting the £3million stock funding milestone

Access to quality used vehicles can sometimes be a challenge for dealers, especially if you’re a Northern Irish dealer. Acquiring stock from mainland UK and increasing accessibility is even more important. Enter Supplier Direct Funding.

Supplier Direct Funding is helping dealers save on time, money and convenience by allowing dealers to purchase vehicles through our APAK stocking plan. Ryan Kelly, Managing Director at iLex Car Sales in Dungiven, is seeing a  positive impact with our new initiative.

With purchase of stock from Manheim Auctions seeing Supplier Direct Funding breakthrough the £3M stock funding advance milestone, Ryan reflects on the impact of the new digital service;

“In a fast-moving, competitive market, we need choice and service when it comes to stock buying. Anything that can enhance our access to the right stock and makes the process easier and more efficient works for us. Supplier Direct Funding does that, enabling us to broaden our access to stock from Manheim and Aston Barclay auctions across the UK.”

With around sixty cars on offer at any time, for Ryan, his stock funding plan is a useful new tool in helping him access additional stock. Having always operated without an overdraft and able to service much of his stocking needs from his own resources, Ryan values the way that Supplier Direct Funding is enabling him to utilise his stocking plan to benefit his business in other ways;

“The switch from paying an auction house and then effectively claiming 80% back from MotoNovo’s stocking service, to them paying for 100% of the purchase costs and fees and then me paying off 20% of the value a few days later, is a small but significant benefit. It means I can make the plan work more effectively for the business, especially as stock coming in from the UK mainland auction can take 8 – 10 days to arrive. This and the reduction in admin time are helping us to be more efficient with our time and money.”