Automotive Industry Today
G3 secures long-term contract with award-winning vehicle finance firm
First Response Finance Ltd has chosen to partner exclusively with G3 as their sole remarketing partner.
Published 06 July 2018
The Leeds-based car auction specialist outperformed First Response’s national incumbent partner during a 12 month ‘Champion Challenge’. The result is a new long-term deal, which includes responsibility for the full UK vehicle recovery and disposal, managed by G3’s RMS platform.
G3 scored highly on sale performance, account service levels, as well as the speed of collections. During and since the switch, the auction house has achieved an uplift of 10% in First Response sale values when compared to its competitor.
Commenting on the new partnership news, G3’s managing director Matt Dale said: “We offer grade-A valets and delve deeper to source comprehensive service history documentation, which I believe is why we stood out. By allocating a dedicated account manager we were able to create the necessary close relationship with the First Response team, which directly translated to a personalised and in-touch service with their end customers.
“Simplifying the collections process for First Response and offering a flat fixed rate for nationwide collections was something that also helped differentiate the proposal. Over the years, G3 has established a broad network of loyal buyers, who really value our low fees, and will certainly benefit from these additional vehicles we’re now offering every week.”
G3 has introduced new technology to manage the entire process, and the firm will be working closely with First Response to refine the overall recovery and disposal process to maximise returns over the coming years.
First Response now has dedicated slots in the firm’s Tuesday and Thursday sales, with G3 able to make instant decisions on bids, resulting in a streamlined buying process for dealers. The remarketing firm also manage the storage and recovery of vehicles on their behalf, helping to reduce costs to sale.
Paul Heaton, Team Manager at First Response commented on the new partnership: “The ‘Champion Challenge’ was created so that we could measure the performance of the competing remarketing brands over a 12-month period. We were really impressed with G3’s hard work and results, which emphasised the great reputation they have created in this arena. We are confident that the collaboration will lead to a bright future for us both.”
The contract follows G3’s numerous in-house technological developments – including the investment in a new site management app and mobile inspection application AVID. First Response vehicles will be available to bid on online as well as in the physical auction hall.