01 Oct First Response Finance extends remarketing partnership with G3
G3 Vehicle Auctions has signed a new extension to their solus contract with First Response Finance ahead of the upcoming move into a new purpose-build auction centre, with the two companies now committed to a nationwide recovery and disposal agreement until 2023.
Nottingham based First Response Finance have today been awarded the Finance Provider of the Year (Sub-Prime) in the Car Dealer Power Awards, and have offered vehicle finance for over 20 years supporting over 185,000 customers. Their collaboration with the Leeds based vehicle auction G3 Vehicle Auctions began in 2017 and has seen a significant increase in units remarketed through their auction lanes every year since.
G3 initially secured the opportunity to manage the disposal of all First Response Finance’s vehicles in a Champions Challenge to trial their E-Recovery software solution, during which G3’s performance and collection processes enabled them to pry the contract from their incumbent national provider of 15 years previous.
This new agreement sees First Response Finance become one of the first headline vendors as G3 migrate over to their new £12m state-of-the-art vehicle marketplace opening in January 2021. – Read more on the new development here
Matt Dale, Joint Director of G3 Remarketing, says: “We are delighted to reinforce the great relationship we have with First Response Finance with this long-term deal now in place to support our exciting expansion plans. We’ve worked hard to deliver enhanced performance for First Response Finance in what many are seeing as a challenging time for the automotive industry, so it’s a testament to our team that we’ve been able to satisfy the needs of another large finance house who lead the way in their field.”
Enhancements in the services offered by G3 as part of the agreement include the increased number of UK drop-off locations in their network to 35, to enable end-users to reach one of their secure storage facilities with this improved national coverage and forward them to G3’s site efficiently whilst managing every stage of the disposal process within E-Recovery.
Having built up a following of loyal buyers for their vehicles at G3 both online and in the hall, the contract extension means that First Response Finance will now offer all of their disposals through their sale events every Tuesday and Thursday with instant decisions on bids.
Paul Heaton, Team Manager at First Response, commented: “The collection and disposal of our vehicles through G3’s sale events continues to form an essential part of our business. One of the key reasons we chose G3 was the uplift in financial returns using their E-Recovery management software which we use to track all our collections in one place and we’re now able to report on our assets in real-time. To recognise the levels of service that G3 are providing by awarding a long-term extension to the contract shows we are fully committed to the partnership. We’re looking forward to both our businesses growing together and being part of their impressive development plans.”
Matt Dale finishes with; “Their vehicles fit perfectly into the mix for the sales we offer every week. With the increased demand for online solutions in 2020, we’re able to present their vehicles with market-leading 360° images and detailed inspection reports as we work tirelessly to de-risk the buying process with our bespoke technology.”