First Response Finance agrees 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 £12m purpose-build auction centre, with the two companies now committed to a nationwide recovery and disposal agreement until 2023.

This new agreement sees First Response Finance become one of the first headline vendors as G3 migrate over to their new 14-acre state-of-the-art vehicle marketplace opening in January 2021.

Nottingham-based First Response Finance has offered vehicle finance for over 20 years supporting over 185,000 customers and they have been voted Number 1 sub-prime lender in the UK numerous times.  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.

Matt Dale, Joint Director of G3 Remarketing, said “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.”

Paul Heaton, Team Manager at First Response, said “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.”