A used car finance provider has defied a saturated marketplace – and the challenges of COVID-19 – to reach a third year anniversary milestone with record sales figures.
Solihull-based V12 Vehicle Finance (V12VF) has put its success down to a brave business model and a disruptor mind-set, challenging household name lending firms with a set of bespoke solutions for dealerships and motorists.
Despite only being founded in 2019, V12VF posted £65.4 million in Stock Funding to used car dealers in 2021. This total exceeds the amount recorded in 2020 at £12.7 million. And this month, V12VF reached another milestone when it surpassed the £150m Stock Funding finance mark since its launch three years ago.
Ciara Raison, V12 vehicle commercial director, said: “Our dealer feedback is that they really like how we treat them as individual businesses and can offer commercial solutions which match their business model.
“The easiest way to sum up how we help our dealers is that we save them money, we make them money, we save them time, we take away hassle and we give them peace of mind.
“The pandemic has forced dealers to look at their models and service their customers remotely. This in turn has given customers confidence to buy online, a trend that is likely to increase."
