Industrywide there is currently a strong emphasis on adding value and improving services, and many companies in the automotive supply chain are realising that they need to deliver exceptional products or services to dealerships, which also benefit the end-users. With dealerships looking for innovative ways in which to convert more enquiries into sales, MotoNovo Finance are delighted to unveil their new value-added service which will ultimately help dealers to seal the deal and improve the customer’s buying experience.

By teaming up with three leading motor trade web solution providers (Raszor, Spidersnet and Webzation), MotoNovo are now able to offer dealerships a service which will enhance their current finance operation. After rigorous development and testing, their new add-on product features a website finance calculator and online finance application platform, and is available to MotoNovo dealerships free of charge. Whilst this  functionality has been around for a while, the company point out that their research revealed a number of operational weaknesses in current offerings, plus often prohibitive set-up and ongoing costs to dealers which have been eradicated in their product.

Convert ‘virtual tyre-kickers’

Karl Werner, head of sales and marketing for MotoNovo, explains: “Everyone knows that customers can research vehicles, view dozens of images and make an enquiry for almost any vehicle from just about any dealer in the country. However, the vast majority of these people are ‘virtual tyre-kickers’, who disappear back into cyber-space at the click of a mouse. The challenge is to convert them from this ‘browsing’ state of mind and involve them in a real conversation about buying, and the first step in achieving this is to place interactive finance calculators against every vehicle which tempt browsers to test the viability of dealer finance by constructing their own quotes, in light of their personal budget.” 

Online finance applications

The MotoNovo solution goes further than just a quote, because once the customer has found the vehicle they would like and checked that they can afford the payments, they can immediately progress with the finance application at the click of a button. 

Karl adds: “At this point the customer details have already been captured and (assuming they have been approved for finance) the dealership will receive an email with the customer contact details and finance approval, which is something that every dealer would love to receive when they arrive for work in the morning. The customer is then told that the dealership will notify them regarding the outcome of the credit check. Our partnership with Webzation is a big step forward because if a dealer chooses to work with us, they get the calculations, F&I information and the proposal process all included as part of our service.”

James Tew, MD of Webzation commented: “Ultimately we want to see finance calculators on every vehicle for sale online, with the ability to progress with a proposal there and then. This means that more customers will choose revenue-boosting dealer finance rather than paying cash or via other personal funding methods. By working with MotoNovo, we are taking the first step in supplying a service which will increase leads, conversions and ultimately, income across the market. Our vision is for dealers across the country to be able to come into work in the morning and have a customer enquiry and a finance acceptance waiting for them in their inbox.”

How can dealers take advantage of this product?

MotoNovo have already integrated this service so dealers that are currently using them for finance simply need to speak to their account manager for the add-on to be made active. Dealers that are not currently working with MotoNovo who would like to learn more about the product should contact the dealer services team on 0844 7704438.