Adding Value to Used Vehicle Stocking
Used stock funding has seen little change over recent years. As is often the case with financial services a certain level of inertia has existed. Now, however, new funding opportunities are emerging and changes in technology capability and affordability are combining to creating the environment for alternative used vehicle stocking solutions to flourish. Assessing the alternatives may not mean a total switch of provider. Many dealers use more than one funder to meet their used vehicle stocking needs. Dealers are willing to develop a portfolio approach and bring other funders into their business. This approach increases flexibility for dealers. Likewise, the risk appetite of funders will also determine the level to which they will fund a dealer.
For all dealers, the wider market place is changing. There are new platforms both to buy stock and new funds with which to purchase it. We now have the opportunity to combine these two crucial ingredients together and deliver “connected stocking”. Introducing change to the used vehicle stocking world is sympathetic with the change in the way many consumers now buy a used car.They look for the car on the internet and will often identify finance offers or loans on the internet as well. They are already connecting the car and funding – even more so when choosing a new car.
Sections of the whitepaper include:
1. Stock funding options
2. New stock funding alternatives
3. Targeting stocking days
4. Developing inventory funding