" ## Win the Affordability Race to Increase SalesAffordability has been central to the rise in new and used car sales as the increasing use of PCP and PCH finance demonstrates. In what may well be a tighter market， dealers can benefit from this affordability attribute with transparent monthly pricing at the crucial point of sale\; that is online. *“If dealers are not showing the monthly PCP price of their stock digitally then they are missing an opportunity - the finance office needs to be online，”* this is the view of Sales Director Shaun Harris83.6% of private new car sales were financed by point of sales finance in April. This impressive number provides clear evidence of the number of people who need to borrow to buy their next car. There is little reason to suspect that the percentage of used car buyers should be significantly different. In reality， even a 40% used finance 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 as recent Google research reveals\;- 74% of car buyers research finance before or 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.*“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\*An online finance calculator can create the platform for converting interest into sales， by， for example， enabling customers to create and compare their own HP and PCP quotes side by side， wherever and whenever they choose. It promotes affordability in a way that is simply not possible for an unsecured loan. Without this online view， the risk to a dealer is that the customer may never contact the showroom to discover the depth of the finance portfolio that is available.Harris concludes\; *“Finance has once again become a crowded market. Unsecured lenders are very active， especially through attractive headline rates. In light of the current macro-economic climate， affordability can only increase in focus for consumers. It’s time for dealers to bring that monthly affordability to life online.”*"""