F&I Management & Training

Dealers need to have their used car finance online in order to boost business levels.

That’s the view of MotoNovo Finance, which said dealer websites also inform and educate prospective customers about dealer finance.

“Dealers need to develop their on-line finance process capabilities to enable customers to self-propose their own finance,” it said.

The proposals sprang from research carried out by the company into used car buyers.

“The research clearly reveals that consumers do look online for their finance before purchasing their car.

“Without a clear transparent finance offer that provides detail on rates and products, consumers invariably default to a source that does provide this information. Most commonly, this is at on-line price comparison sites,” said MotoNovo head of sales and marketing Karl Werner.

“Sadly, customers are often making buying decisions on limited information. Classically, this is driven by rate and the age old perception that by paying cash they get a better deal.

“Unfortunately, they may never discover the potential for a PCP on a used car, the convenience and high accept rates that typically are associated with dealer finance because this information is simply not on-line, or is not clearly accessible on-line,” he added.

Werner noted the growing popularity of online finance calculators.

DATED: 18.03.15

FEED: MT