One of the UK’s leading car portals, Motors.co.uk, is making motor finance offers more prominent on its web site using technology from iVendi.
Each standard car view now shows HP and PCP examples as well as a finance calculator from each dealer’s panel of lenders next to the main “hero” image of the vehicle.
The tools provided by iVendi and Motors.co.uk allow each dealer to manage all key aspects of their finance offering online, including products from one or more lenders, therefore effectively creating their own online finance comparison.
Phill Jones, managing director at Motors.co.uk, said: “Consumers are actively seeking ways to use the internet to make car buying easier. Our integration with iVendi is helping them feel empowered with better information and control of their application.
“Just as importantly, for dealers, it allows them to present their finance offering earlier in the consumers buying process to grow a relationship and reduce time at point of sale.”
James Tew, CEO at iVendi, said: “As our experience of online motor finance increases, we are learning more about how to make it work best for the dealer and the customer.
“The presentation style that will be used on Motors.co.uk embodies everything we know about how to make motor finance penetration as high as possible in terms of elements such as page design and functionality. This is crucial. Getting these factors right can produce an increase of around 300% in online motor finance sales.
“There is a growing realisation that online motor finance is a highly credible way to drive revenue through meeting a genuine customer need. What we have provided here underlines that trend.”
Other iVendi features included on Motors.co.uk include a range of informative videos covering the benefits and risks of different finance products, as well as the ability to upgrade to Car Finance Checker, which provides customers with the means to check the likelihood of approval for their motor finance application.