To help dealers take advantage of the influx of used vehicles expected in the first quarter, Manheim is offering 30-day interest-free loans for $30 effective Feb. 1, 2014. This offer applies to dealer cars purchased and is available to both Manheim and NextGear Capital customers. In addition, all purchases can be made at any Manheim location, as well as through Simulcast and OVE.com.
“This program is about helping dealers start the year strong by putting more buying power in their hands,” said Nick Peluso, senior vice president of customer management for Manheim. “Giving dealers the ability to secure a no-interest loan for 30 days at $30 not only helps them buy and sell more vehicles, but also allows them to better compete by providing their customers with access to a greater selection. This offer, along with waiving online fees in markets affected by the harsh winter conditions earlier this month, are examples of our efforts to be proactive, while offering solutions that help improve the customer experience for dealers.”
As the first quarter of the year is typically a time when inventory is more plentiful, this program is designed to help dealers more easily acquire vehicles prior to the heavier spring buying season. Giving dealers greater buying power via any sales channel makes it easy and convenient for them to stock up on vehicles, while providing their customers with more inventory choices. Each vehicle purchased through the 30-day, no-interest loan program will include a $30 fee per purchase. The promotion will run from February 1-28. The purchasing process for dealers will be the same as usual at the 70 Manheim operating locations in the United States and Canada. Dealers will have 30 days to pay off their loan before interest or a late fee is charged.
Active NextGear Capital dealers will not require pre-approval for this offer and will be processed as normal and the purchased vehicle(s) will be included in the dealer’s inventory. Dealers not using NextGear Capital for financing will be required to receive pre-approval to qualify for this program. Manheim has developed the pre-approval process for those customers, which will be available at all auction locations in the U.S. and Canada. Dealers earning pre-approval status at one location under this promotion will be able to purchase vehicles at all the other 69 Manheim operating locations in North America without submitting another application. Dealers can obtain applications from Dealer Services, their Dealer Sales representatives or via Manheim.com.