1:31 pm, May 4, 2020
Online used car marketplace findandfundmycar.com says it has seen a surge in finance activity as well as increases in sales leads and site traffic.
After an initial drop at the start of the lockdown, the company – which is part of MotoNovo Finance – has since seen sustained growth, reporting a 29 per cent increase in sales leads week on week and a 15 per cent rise in site traffic
MotoNovo chief executive Mark Standish, pictured, said: ‘One of the most compelling key performance indicators is the notable increase in our site visitors engaging with our financing options, which is a sure sign of car buying ‘‘interest’’ moving through to ‘‘action’’.
‘The levels of people seeking a finance decision in principle and those completing a full finance application have both increased significantly.’
And he said that crucially the length of time people were on the site and returning to it, looking at vehicles and its finance capabilities, all indicated genuine car buying and financing interest.
Standish added: ‘It seems likely that for many people, the move forced on them by the lockdown to broaden their online activities will become embedded.
‘Whether they have been browsing for a car or using online shopping for the first time, the genie is not going to go back into the bottle.
‘This will be especially true for non-emotional purchases such as finance.’
More: MotoNovo Finance extends acceptance cut-off date to 60 days
More: Official – Government confirms car dealers CAN sell cars and deliver during lockdown
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