Your customer is knee-deep in the car-buying process and ready for the final part, the car financing. Finally, after hours of deal making, they sign the terms.
But in your customer’s mind, was the long process worth it?
It’s a New World Out There
The car-buying process has been turned upside down by the advent of online car buying. Customers no longer have to sit in the dealership for hours using their best negotiating skills — they can bypass that entire process.
The statistics are there. Sixty-two percent of consumers initiate the car buying process online and seventy-five percent said they would consider making their entire car-buying process online, including financing.
Sometimes, the toughest part of the process is financing. However, what was once a very touchy part of the car buying process, requiring the customer to sit in the dealership for hours, has now moved online. Lenders are now partnering with dealerships with creative online financing methods.
Online Financing is the Next Step
While online car buying was first, online financing is the next step. Many automotive leaders have great success with this in their dealerships. Pairing online financing with an online shopping experience not only puts the customer in the driver’s seat, it also creates more opportunities for dealers.
If you partner with an online service that offers financing, your customers can easily compare vehicle prices paid by other consumers, select loan options and get approved by different lending partners, all with the click of a button.
This experience is easy for customers, and provides complete transparency, without any bureaucratic or sales-esque slowdowns.
Your dealership gets customers who are actually “ready-to-buy,” rather than those who are “just looking,” saving you time and resources.
Plenty of revenue is there if you choose to engage in online financing practices. You provide your customers with a stress-free car buying experience while saving your dealership time by attracting ready to buy customers.
What do you have to lose? Check out online financing options today.
Author: Devin Koskan
Devin Koskan is the Founder and CEO of www.KosLo.com, the online vehicle deal generation company that is revolutionizing the car buying/selling experience. Devin started his career in the wholesale industry with a Minneapolis-based company, where he was selected as President to turn around the financially failing company. Devin quickly found his passion for fixing companies, increasing efficiencies, and helping people grow professionally. He then went on to develop KosLo after years of frustration with the purchasing process for high dollar items such as cars and motorcycles. Devin’s dream was to develop an online website that saved consumers time and money, while also adding financial benefits to all dealerships.