Vehicle Funding Solution
An innovative vehicle funding solution has been introduced at the City Auction Group for independent motor retailers. Providing vehicle stocking solutions for up to 120 days supported by 24 month warranty packages the Vehicle Trading Group have signed a multi-million pound funding transaction to ensure all City Auction Group motor retailers have the opportunity to purchase vehicles at any auction event at the Belfast facility.
MD Michael Tomalin states 'the financial position of many established motor retailers has been challenged in recent years with banks and financial institutions changing policies relating to vehicle funding which has eliminated buying power at our centres. This funding line gives real flexibility to our core motor trade professionals and we are delighted to assist by signing with a leading vehicle funding organisation. The sign up is simple and flexible, something that other financiers have struggled with, hence the opportunity we are providing. We are working closely with VTG to provide a group wide solution both in the UK and Ireland in the coming weeks'.