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BNP Paribas Personal Finance partners with Arval to offer one stop shop to purchase and finance used stock
Two divisions of the BNP Paribas Group in the UK – BNP Paribas Personal Finance and car leasing specialist, Arval – are joining forces to launch a new stock financing solution for motor dealers across the UK. Dealerships can now purchase and finance their used stock in one transaction directly through Arval’s market-leading online sales platform MotorTrade. The tie up enables dealers to spread 100 per cent of the purchasing cost (inclusive of fees) over flexible phased repayments of up to 120 days. The one-stop solution also makes it easier for dealerships to increase their stock levels, to manage their cashflow, and plan their expenditure levels. The solution is backed by the BNP Paribas Group for complete peace of mind.
Funding is applied to the account automatically for vehicles bought through the stock funding option. All information relating to the purchase, such as invoices, statements and payment schedules, is available to view on any connected device through an online account.
Arval’s MotorTrade platform offers dealerships direct online access to around 45,000 ex-lease vehicles each year from a range of manufacturers with no middlemen and competitive buyers’ fees. For its part, BNP Paribas Personal Finance has been offering responsible consumer finance solutions in the UK for 45 years. In that time, it has become a trusted partner for businesses adapting to ever-changing marketplaces. The new agreement is part of BNP Paribas’ Group-level commitment to deliver a seamless ‘one bank’ approach that pools the expertise of all its teams to provide the best experience for its partners. Andrew Brameld, managing director of BNP Paribas Personal Finance’s motor finance business in the UK, said: “We’re delighted to be partnering with Arval to deliver this industry-leading stock finance solution to motor dealers across the UK.
“Here at BNP Paribas Personal Finance we have extensive experience at delivering quality, affordable financing options and we’re sure dealers will find this to be a useful tool as they manage and finance their stock levels.” Gary Burns, remarketing director at Arval UK, added: “Arval MotorTrade has grown rapidly to become the go-to platform for retailers who are looking to purchase high quality used stock for their forecourts. “This partnership further enhances our MotorTrade proposition making it even easier for buyers to access the stock they need, while giving them the confidence they have a finance plan in place that they know they can trust.”