Santander Consumer Finance has launched Manheim AuctionDirect nationally after a successful pilot.
The deal allows dealers to purchase stock at Manheim’s vehicle auctions and charge the cost to their existing of wholesale facility with Santander.
Stewart Grant, commercial director at Santander Consumer Finance, said that the agreement would benefit dealers.
Grant said: “I’m very pleased with the success of the pilot and delighted to be able to roll this new product out nationally.
“With our Manheim AuctionDirect product we are not only making the purchase of vehicles easier and more convenient but also delivering a significant cash-flow benefit too.”
Tim Hudson, managing director at Manheim, believed that the deal would also benefit buyers.
Hudson said: “We are delighted to be launching this product, which complements our existing wholesale funding offering for buyers.
“The solution provided by Santander helps to give or clients the flexibility and “go-faster” options they need to win in the automotive sector.”