E-commerce provider iVendi has partnered with Manheim’s used car classified platform Motors.co.uk to provide a finance calculator ‘widget’ to the latter’s dealer customers, at no extra cost.
From August 2014 the service will be offered to all Motors.co.uk dealers, enabling them to select the option to be live by the end of September.
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An upgrade alternative will also be made available for dealers to partner directly with iVendi, allowing them to feature the product on their vehicle web page and generate leads through finance profiling, on a cost-per-lead basis.
Dealers will then be able to place the transaction with the chosen lender and will maintain the flexibility to select their own interest rates.
Andy Coulthurst, managing director of Motors.co.uk, said the product had already generated huge demand among dealers.
"We’ve decided to invest in the technology and offer it as a free upgrade for our partners; each operation is a bespoke set-up and we aim to have everyone live on the system by the end of September."
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By GlobalData"The feedback we received from dealers was that they did not want a ‘one-size-fits-all’ solution," he explained: "each will retain flexibility in the finance offer they present to customers based around their individual business requirements."
Coulthurst praised the tool for allowing consumer to check their credit before applying for finance through the dealer, describing it as "a great solution for all parties."
" The consumer is more likely to be offered finance products for which they qualify, while the dealer is able to establish the credit worthiness of a potential customer before proceeding," he added.
Richard Tavernor, founder and chief operating officer at iVendi, said: "Our product is proven to transition in-market car buyers quickly from research to purchase and we have many dealer customers already using carfinancechecker.com on their own websites who arekeen to extend their reach to the Motors.co.uk product immediately upon launch."
He added: "I believe that our combined expertise in search and finance has produced a cutting-edge product which delivers a seamless solution for both dealer and consumer."
