Dealer finance – perfect for the millennial buyer – if they can find it

# Dealer finance – perfect for the millennial buyer – if they can find itThe importance of a bright, clear finance process for a generation of people immersed in tablet and smartphone technology is made abundantly clear by new US research, observes Shaun Harris, Codeweavers Sales Director\; “Quite simply traditional banks in America recognise that they are not geared up to the needs of Millennial buyers who are set to dominate the credit market.”According to US Bank Director’s 2015 Growth Strategy Survey, 60% of bank leaders polled indicated that their bank might not be ready to serve Millennial's. The report noted that banks are struggling to understand and plan for the digital needs and wants of younger demographics. Amazingly 70% of bank directors admitted even they do not use their own bank’s mobile channel. In the UK, it is very clear that online banking has taken off dramatically, but this is not to say that today’s consumers are not open to other lending forms.“Traditional lenders have come under a good deal of scrutiny over recent years. Combine the poor perceptions of such lenders with the emergence and convenience of new technology and it is easy to understand why 40% of bank directors polled in the US survey worry about potential competition from Apple. Dealers need to recognise that the emerging generation of credit users are very happy to look beyond banks\; they want something fresh and convenient. The challenge for dealers is are they ready to step up to the plate and embrace the tools that can help them and their customers?” concludes Harris.## Serving the needs of the ‘digital everything’ buyerCodeweavers FlexiCalc is an example of the type of technology that can serve the needs of today’s digital ‘everything’ buyer- Customer friendly notifications on screen alongside the relevant part of the - Colourful easy to navigate look that can match dealer branding quote.- Short sharp explanatory videos in plain English- Monthly payment and a deposit free text fields so that customers can fill in either one by using the clearly displayed arrows. Demo FlexiCalc - (link https//www.codeweavers.net/21-connery-south text https//www.codeweavers.net/21-connery-south)

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By: Codeweavers - 29/09/15

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