News

The latest news from iVendi and the industry

News

The latest news from iVendi and the industry

Almost three quarters of motor finance checks being made on mobile

Tue, 19/02/2019

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Almost three-quarters of online motor finance eligibility checks are now being made on mobile devices, according to new figures we have just compiled at iVendi.

Today, 73% of use of our Car Finance Checker is through smartphones and tablets. This compares to 55% four years ago and 33% when the product was first launched in 2013.

James Tew, CEO at iVendi, said: “The rate of change is astonishing. In five years, 40% of people accessing online eligibility checks have changed from a desktop or laptop computer to a mobile device.

“Of course, what this means is that dealers need to ensure that their web site motor finance functionality works extremely well on smartphones and tablets. If they don’t, they will unquestionably lose out on business to those that do.

“This, in fact, is something that we can see from our tracking of behaviour on web sites with which we are involved. If the online experience isn’t configured well for mobile, many users go elsewhere.”

James added that mobile device use of Car Finance Checker was dominated by iPhone and iPad users, which were well ahead of Android and other devices.

He said: “While, in terms of sales of mobile dvices, Android is well ahead of Apple, our statistics indicate that iOS users represent the overwhelming majority of genuinely engaged online used car buyers.

“This is a large – and growing - group of customers who are happy to choose, finance and complete a used car deal on their smartphone. Dealers have to meet their requirements by creating a high quality online journey.”

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