Over 65% of the UK’s largest dealer groups now offer some kind of fully interactive motor finance option on their web site, iVendi has found.
The number is roughly double the amount which offered online finance options two years ago, and the technology provider said it had seen an ‘explosion’ in recent months.
Go deeper with GlobalData
Access deeper industry intelligence
Experience unmatched clarity with a single platform that combines unique data, AI, and human expertise.
James Tew, chief executive officer at iVendi, said: "Our view is very much that 2016 is the year when offering online motor finance became the norm for motor dealers rather than an exception.
"It is no longer seen as an experimental part of the online dealer offering but is instead an essential part of their online customer proposition."
According to Tew, dealer expertise around offering online motor finance is also increasing, adding: "Dealers are learning about what finance products work best for them online, how to present them and – crucially – how to integrate web-based and in-showroom finance so that it works in a seamless manner for customers."
US Tariffs are shifting - will you react or anticipate?
Don’t let policy changes catch you off guard. Stay proactive with real-time data and expert analysis.
By GlobalData
