A New Level of Online Finance Impact
Codeweavers Finance Finder technology is helping dealers to define their online strategies for finance and car sales. It is debunking some perceptions about who searches online and demonstrates that increasing mobility is changing how and where buyers are finding their car finance.
- Identifying the locations of customers searching online
- Almost half of users were searching from beyond the traditional 20 minute drive time from the dealer
- Three quarters of the users using Finance Finder are male
- The most popular age range using the tool was 45-54
- One third of users using Finance Finder used the tool on a tablet or mobile
- Based up dealer website data the most popular car searches were for the Land Rover Evoque followed by the Ford Focus Titanium
The new plug-in Finance Finder technology has been designed to be easy to install for dealers， but more importantly engaging， easy to use and highly transparent for prospective customers. In designing the service，the spirit and letter of FCA regulation were front and centre and the measurable performance demonstrates just how well this has gone down with consumers.
Tools within the highly visual app enable the customer to discover the finance options via video and guide notes and to customise their own ideal finance agreement. They clearly value this approach.
- On average，consumers using the tool have clicked on 6 different points of the Finance Finder graph meaning they personalised their finance 6 times to meet their own needs
- 20% of people shaping their own ideal agreement then went on to click the finance calls to action button， enabling them to progress to full application.
- 10% of users who clicked on Finance Finder clicked to watch a product explainer video- 63% of customers progressed through to the PCP tool to structure their own PCP agreement on a specific car.
Dealers testing Finance Finder have been stunned by its impact. Clearly， we wanted the product to help promote finance as a means of selling the car and finance， but we have been delighted by the way in which the easily accessible data is helping dealers to understand their prospective audiences in a truly measurable fashion. It has gone way beyond our best expectations and is helping dealers to see the value of taking finance online on a far deeper way than they had ever imagined, reflect Codeweavers Sales Director Shaun Harris.