Santander Consumer Finance UK has partnered with Dealer Auction, the digital wholesale marketplace, to handle the collection, processing and remarketing of its end-of-term MG vehicles.
Under the agreement, vehicles will be offered to MG dealers through a closed network, where they can be made available in a timed auction or “buy it now” basis. Dealer Auction, where MG already has a closed digital network, will be responsible for processing and preparing the vehicles through its partnership with Manheim. The vehicles will then be on sale the instant they are processed, and buyers will have the option to collect their vehicles from Manheim locations nationwide or have them delivered.
Peter Redfern, Head of Remarketing at Santander Consumer Finance, said: “We are very pleased to join forces with Dealer Auction. The opportunity to sell vehicles fast, to give trade customers a great buying experience while supporting MG to bring vehicles into its dealer network is a no-brainer.
“Prioritising the retail network helps protect residuals and will ensure there’s a ready flow of stock into the MG dealer group. Additionally, Dealer Auction’s digital auction format, its legion of motivated buyers and integrated physical services make this a winning proposition for Santander.”
Santander Consumer Finance is the latest in a growing number of fleets, finance companies and OEMs to partner with Dealer Auction.
Dealer Auction Chief Executive Le Etta Pearce said: “Our platform has been home to the MG brand for more than a year, so it makes sense for Santander to take advantage of Dealer Auction Remarketing Services for its MG vehicles. The calibre of the automotive brand and its rapid growth make this partnership a three-way win-win for Santander, MG and its dealer partners.
“This is another ringing endorsement for the digital auction format with its capacity to cut days from the remarketing process and deliver solid performance. Dealer Auction Remarketing Services has extended our service proposition to support many more dealers and fleets to make the easy shift to a digital remarketing strategy. It blends all the benefits of a high-performing marketplace but with the added convenience of a collection and processing service that overcomes challenges that some may have with the self-serve model. It ramps up speed of sale and maximises profit potential too.”
Dealer Auction Remarketing Services is available now. For more details visit dealerauction.co.uk/remarketing-services.