We don’t just lend to customers, we can also lend funds to help dealerships expand, purchase more stock or make improvements to their showroom. More specifically, our latest feat in dealer funding ‘Supplier Direct Funding’ allows our funded dealers to purchase vehicles quickly and conveniently through our trusted suppliers on their APAK Stocking Plan. APAK being a fully online system designed to help dealers monitor the stock they’re funding.
A new way to fund vehicles
Collaborating with long-term wholesale funding software partners APAK, we’re switching up the traditional funding process. Instead of dealers paying the auction house for stock and then adding each vehicle to their stocking plan to seek funding from MotoNovo, the auction house loads the vehicle to the dealer’s plan and MotoNovo pays the auction house 100% of funds, plus their auction costs directly.
Make the most of March
This March, we’re helping our dealers free up cashflow by removing the admin fees for loading stock onto APAK with Supplier Direct Funding. This is just the latest move in our quest to help dealers navigate through the current lockdown, and come out the other side stronger than ever.
[Valid March 2021]
Monetise stock funding
To help you understand the benefits of digitising your stock, we did a little maths. If dealers fund an average of 22 cars using Supplier Direct Funding with MotoNovo, the time they’d save by digitising the process adds up to four full days a year. Or, in money speak, the equivalent of £1,000 in savings. Add that on to the £450 saving dealers can make throughout March, and it can be quite significant.
Chris Rowthorn, our Head of Operations & New Business comments:
“With well over £2.5M of used car stock already funded on our new digitised Supplier Direct Funding, we’ve been able to monetise the value of a change to traditional used stock funding. It costs nothing, removes the time required to load stock onto the platform, reduces the hassle of stock auditing and helps cashflow. The total time value may seem modest to some, but this is a repeatable benefit and represents the way digitising processes can help to make all dealers leaner and more profitable.”