Don't let dealer finance get left behind

## Don't let dealer finance get left behind**As alternative credit options gain ground, dealers need to ensure their finance offer is online and obvious – a bright, clear presentation is vital argues finance software experts Codeweavers.**Used car dealer finance may be 9% up this year, but with consumer credit growing by broadly the same level, dealer finance risks losing the ground it gained through the economic downturn. It is essential that dealers ensure the attractiveness of dealer finance is clear in the fastest growing marketplace for finance – online. To support this clear need, we have re-developed our Finance Finder tool to provide the type of fresh and direct experience consumers want. Codeweavers analysis of the consumer credit market suggests that while still the largest source of unsecured lending High St banks are lagging behind growth in the wider market. The indications are that there is a trend to other channels, with online and supermarket lenders the likely winners. Lingering dissatisfaction with traditional banks and especially access to a wider portfolio of lenders through digital channels are thought to be the key factors behind this shift.Codeweavers has moved to embrace this trend by developing a new approach to the online technology that dealers can use to capture the attention and interest of today’s online car buying public. Sales Director Shaun Harris observes\;*“We have developed a fresh new way for dealers to present their finance online. It promotes the USPs of dealer finance clearly and compellingly at the very time and place the customer needs them. It is there to inform and engage in a colourful easy to read format.”***Finance Finder has been developed to fulfil the four ‘NICE’ principles that ensure the new tool works for dealers and their customers**- Natural - The tool uses a blended colour palette to ensure Finance Finder sits naturally within a dealer website.- Informative - A powerful online comparison finance tool intuitively supports easy customer access to view different products against a selected car – immediately the affordability of a used car PCP is obvious. - Compliant – creating a good customer outcome as mandated by the FCA starts with a complaint finance presentation. All data is available transparently in one place and on one page – easy!- Engaging – Plain English is supported by simple brightly coloured graphics that support the customer’s journey to self-discover their own ideal finance package. *“Finance Finder has been built with compliance ‘front & centre’ to ensure the consumer is treated fairly and gets a great finance outcome. Great for consumers, it is also great for dealers\; after all, we want to see both TCF and TDF (treating dealers fairly) in action!*” concludes Harris.

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By: Codeweavers - 11/09/15

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