1:17 pm, August 12, 2020
A new integrated system has been launched that lets a range of finance options to be sent to customers straight from dealer videos.
Dealers using online motor retail technology specialist iVendi’s Convert system alongside CitNOW’s Sales app can configure three types of link alongside any video they send to a potential car or van buyer.
James Tew, pictured, chief executive at iVendi, said the integration benefited consumers and dealers by making finance options faster and easier to access.
Finance Application lets the customer apply for finance directly from the video presentation page, Finance Check performs a soft check to find out product eligibility, and Vehicle Reservation holds on to the vehicle for a certain length of time by paying a fee.
‘It creates a natural flow from the customer video through to the process of looking at the dealer’s motor finance products, their different providers and the wide range of payment terms available,’ said Tew.
‘If the consumer likes what they see in the video, they can go straight to the next step in the purchasing process, obtaining a finance check, or making an application or reservation in moments.
‘Also, depending on how the integration is configured by the dealer, the finance information can be used to underline the affordability of the vehicle while the consumer is viewing the vehicle. They can make a very informed decision.’
He added that it also helped to ensure that the finance options aided Financial Conduct Authority compliance.
‘We have created this very much with the FCA in mind. It provides structured and auditable processes that can be easily recalled by the dealer in the event of any form of issue. This should help to protect both retailer and customer.’
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