By Mike Cobb and Richard Irvine-Brown
A weekly round up of the UK remarketing and trade value sector, including: BCA’s stock funding, the Qashqai RV, ACF on the cost of potholes and an online record for Manheim.
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BCA begins stock finance
British Car Auctions (BCA) has formally launched its Buyer Stock Funding service from BCA Vehicle Finance, offering up to 100% of purchase costs (plus fees) on terms of up to 120 days.
The service provides credit to purchase vehicles for retailers including smaller independent dealers, a third of whom, BCA has estimated, find difficulty securing finance from banks and traditional lenders.
The first companies to use the service were an LCV specialist based in the south of England and an East Anglian car dealer.
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By GlobalDataNissan claims 50% RV on Qashqai
Nissan has claimed the latest iteration of its Qashqai crossover model, on sale in the New Year, will retain 50% of its residual value after three years or 30,000 miles.
Nissan says the figure, from vehicle valuation firm CAP Automotive, is a gain of 10ppts on the previous Qashqai variants, equivalent to £2,375 or £2,800 on the 1.5 dCi Acenta or 1.2 DIG-T Acenta petrol, respectively.
The Japanese manufacturer attributed the increase to enhancements of the model’s technology and safety features.
Manheim sells, wherever you are
Car remarketing group Manheim has posted a record-breaking month in digital sales, with nearly 18% of the stock it sold going to online bidders in September.
Since launching the latest version of its Simulcast platform in February 2013, Manheim has seen monthly sales rise by 27%.
Other platforms, including the company’s smartphone application, resulted in total sales of 5,237 vehicles to over 1,500 customers in September.
Potholes affect one in six
ACF Car Finance, the retail arm of subprime lender The Funding Corporation, has found six out of 10 vehicles taken into their retail network have suffered some sort of damage from Britain’s potholes.
The company found the damage when inspecting the vehicles for resale, and says that the damage can often go unnoticed by the owners.
The damage varies from minor problems like paint chips through to potentially dangerous problems such as misaligned steering.
richard.brown@timetric.com
