We have had some questions recently from our customers regarding payment terms and direct debits relating to our recent announcements. On 1st April, we collected direct debits relating to your February invoice, which you received from us on 1st March. Our contract with you is for 30 day payment terms and we invoice one month in arrears, so rest assured that the payment taken on 1st April does not relate to March or April billing periods.
We want to reassure you that the measures to protect your business put in place recently, including an extension to March payment terms and removing core advertising charges for April, remain in place. As a reminder, the current support we’re offering you is:
- Double stock for all customers until 31st May
- No core advertising charges in April (invoice date 1st May)
- 30-day payment extension to March billing period (invoice date 1st April - issued on 1st April)
You don’t need to do anything with your existing direct debit setup with us to benefit from the payment extension or removal of advertising charges for April. You can find more information here.
The below table explains invoice months and collections over the current period, for customers on 30 day direct debit agreements.
|Month of invoice||Date invoice sent||Date to be collected||Key information|
|February||1st March||1st April||To be paid in full, collected 1st April|
|March||1st April||1st June||To be paid in full, payment terms extended by 30 days to 1st June|
|April||1st May||1st June||Free core advertising, other products remain chargeable*|
* Core advertising is free of charge but any subscription products or tactical spend such as PPC remain chargeable.
We are continually monitoring the situation and the support we provide to you and will keep you updated as the situation evolves.
The Auto Trader team.