An increasing number of independent car dealers have signed up to V12 Vehicle Finance Service Assist – a service, repair and accessory financing package.
Paragon Motor Company and Swindon-based Cross Street Garage have signed up to the platform, which has been designed to support growth of their after-sales business.
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Customers are able to spread their service and maintenance payments over a six or 10-month period, paying 0% interest. Service Assist is also helping to increase activity in dealers’ workshops as they offer the package as part of a seasonal winter servicing offer.
James Richardson, service manager at Paragon, said the service finance has provided the company with an additional business tool. “It gives us the opportunity to carry out the more expensive repairs that customers might have originally tried to delay, or seek lower cost alternatives due to financial constraints.
“This new approach to servicing negates these challenges, providing the customer with a hassle-free approach to vehicle maintenance.”
Pete Cheeseman, service manager at Cross Street Garage, said the V12 platform is already having an impact across the business. “It is allowing more of our customers to use our professional services and keep their vehicles running smoothly. It generates turnover for us as a business and also provides our customers with a solution during what can sometimes be a stressful financial time.”
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By GlobalDataDavid Mercer, managing director of V12 Vehicle Finance, added: “Service Assist is helping grow dealers’ after-sales businesses at the same time as keeping drivers safe as they can afford to keep their cars in A1 condition.
“We are seeing dealers use Service Assist strategically as part of seasonal offers that attract new and existing customers into their workshops.”
V12 launched to the market in July this year, with its platform featuring wholesale finance, stock source, retail funding and service financing solutions.
