MORE than 65 per cent of the UK’s 200 largest dealer groups now offer a fully interactive motor finance option on their website, according to research by iVendi.
iVendi, one of the market leaders in online motor finance, says that the percentage of dealers offering finance online has exploded in recent months, and is estimated to have doubled from as recently as two years ago.
James Tew, CEO at iVendi, said: ‘Our view is very much that 2016 is the year when offering online motor finance became the norm for motor dealers rather than an exception.
‘It is no longer seen as an experimental part of the online dealer offering but is instead an essential part of their online customer proposition.’
Tew said that the amount of expertise that dealers now hold about online motor finance was also increasing rapidly.
‘Dealers are learning about what finance products work best for them online, how to present them and – crucially – how to integrate web-based and in-showroom finance so that it works in a seamless manner for customers.
‘They are also making use of a rapidly increasing selection of online tools to ensure that they are making the most of the opportunities that online finance represents.’
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