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The Marketplace addition to the CarFinance 247 platform has seen 500 dealers join, representing around 5% of the total UK independent market.
The company said it is on track to welcome 1,500 dealers to the marketplace by January 2022.
The Marketplace is complemented by CarFinance 247’s car search tool, with more than 110k used car listings, allowing buyers to quickly and easily pick from the dealer network.
71% of CarFinance 247’s buyers currently buy a car they’ve found on the car searc.
Reg Rix, CEO of CarFinance 247 said: “The rapid growth of the CarFinance 247 Marketplace reinforces our reputation as the UK’s leading online car finance platform. As we continue to expand, even more of the UK’s independent dealers will be able to reap the rewards of access to a greater pool of pre-approved in-market buyers. Marketplace sellers will also have their stock sent to consumers who have indicated they’re interested in a particular make or model, expanding their reach even further. Independent dealers are the lifeblood of the UK’s used motor trade and we look forward to working with many more forecourts and connecting them with buyers nationwide.
“The growth of the Marketplace is also good news for car buyers. It may sound obvious but the best way to solve a problem is to prevent it from happening in the first place. Thanks to our rigorous set of standards and reviews, consumers can trust that the dealer they’re buying from is reputable and any issues that may arise will be swiftly resolved.”