Santander Consumer Finance has signed a new three-year remarketing contract with Aston Barclay Prees Heath. The new deal follows a 100% conversion rate on all stock entered into the Shropshire auction site during 2018.
Santander will continue to use the Prees Heath Wednesday fleet sale as a monthly benchmark for prices and market demand for its used stock, which includes voluntary terminations, repossessions and ex-PCP and PCH cars.
Stock volumes are expected to increase over the contract as Santander’s motor finance and personal leasing business continues to grow.
The anticipated increase in volumes will be supported by an additional 6.5 acres of land at the Prees site, following Shropshire Council’s planning approval. The new acreage, which will more than double the current size of the site, will start to come on stream later in 2018.
Speaking about the new contract, Shaun Deacon, head of Arrears Management at Santander Consumer Finance said: “Prees has achieved a 100% conversion on our stock and the customer service levels we have received and buyer interest in our used cars has been first class.”