## Uberising Finance*by Shaun Harris， Sales Director， Codeweavers*The lesson we must all take from Uber when it comes to dealer finance is that it is less about the products and more about the process. Just like， Uber， we have to keep making it easier for consumers to plan， navigate and travel through their finance journey. For most consumers， this all starts online. 83.6% of private new car sales financed by point of sales finance in April. It provides clear evidence of the number of people who need to borrow to buy their next car and there is little reason to suspect that the percentage of used car buyers should be significantly but how many dealers can point to finance penetration of over 80% for their used vehicle activity? The reality is that even 40% penetration would be above the overall market average. There is a huge gap to be filled. The starting point has to be in creating value in dealer finance at the initial point of purchase. This like the car happens online for most customers.Dealer websites may be dominated by cars， but if we have learned anything about the rise in PCP and now PCH finance， it is that affordability is the key driver in the purchase process. Consumers want to establish affordability to establish a budget and/or to identify the monthly cost of a desired vehicle. If over 80% of people need finance to change car， then affordability really should be central to the way dealers present their stock.Finance doesn’t happen in the showroom\; it happens at the start of the car buying journey. The fact that so many dealer websites do not present the affordability andavailability of finance for their used stock could well account for the gap between the 80% of customers who need it and the under 40% who actually use the dealer’sperfectly affordable and accessible finance services. Our own thoughts on this point have been reiterated by new Google research on this very subject* 74% of car buyers research finance before of while deciding on a model (not after – as would be expected from the traditional linear model of buying a car which ends with considering and selecting finance)* 43% of car buyers research their car finance on monthly payment terms* 71% want to begin the finance process online – saving them time when they are in the dealership\; and* 73% of car buyers are more likely to buy F&I in a dealership when they previously accessed information online.Making finance and affordability a deep and engaging part of the online discovery and buying process\; enabling the customer to interact and adjust their finance model to meet their needs will make car buying easier. Finance is not solely about price\; rather it is about making the buying journey less cumbersome and more accessible. Ceding control to the car and finance buyer is a smart move that meets consumer demand.Simple technology has redefined the taxi market\; customers control their journey in a transparent and fair manner. Motor finance can travel the same road by allowing the customer to navigate their own journey.