BCA has launched a stocking plan for independent motor traders through its BCA Partner Finance business that could fund 60,000 vehicles.
It expects around 10% of its independent trader customers to sign up to BCA Partner Finance to provide an additional stock funding line to their existing arrangements.
Spencer Lock, BCA's managing director, said this could also equate to funding around 10% of the 600,000+ vehicles sold through BCA's auctions annually by the end of 2015.
Lock said the aim of the venture, headed by Andrew Shaw, whose finance career includes Hyundai Car Finance, Volvo Cars UK and Lex Service Group, is to assist independent traders to grow their businesses and sell more cars.
It will also provide an additional revenue stream for BCA. It operates at a flat rate of 10% APR, which would equate to daily stocking charges around £2.41 for a vehicle valued at £6,500.
Franchised dealers, who already have more extensive funding lines than most independents, are not expected to be a significant opportunity for BCA Partner Finance.
BCA is also in the process of establishing a team of 10 business development executives which will work with its independent trader customers, for no charge, on improving their stocking policies and vehicle turn.
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