Independent prime lender MotoNovo and car finance and dealer technology provider iVendi have cited the ability of mobile technology such as tablets to speed up the sales process and remove forecourt clutter.
Speaking to Motor Finance, Karl Werner, sales director at MotoNovo, which launched the MotoClick e-signature in February, said the first testimonials were now coming in for the product.
Go deeper with GlobalData
Access deeper industry intelligence
Experience unmatched clarity with a single platform that combines unique data, AI, and human expertise.
Werner explained one major dealership had moved from ‘hello’ in a showroom to "fully paid out and driven away in 42 minutes. He even timed it, he was so excited."
The MotoClick offering, which includes automated compliance, will work on multiple mobile devices.
"You can be sat in a car with a customer who has just test driven it; propose them and sign them up on your iPhone or iPad," said Werner. "It’s truly mobile".
‘Both sides of the desk‘
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 GlobalDataiVendi, which supplies technology products to more than 600 UK dealerships, claimed in a statement the progress of such hardware could make sitting around a desk for an hour to negotiate finance "irrelevant".
Richard Tavernor, director at iVendi and who has "sat on both sides of that desk", said the process was a "longwinded experience that is fatiguing for everyone involved" which could be replaced by using items such as iPads or installed display screens.
Likewise, captive finance providers such as RCI Financial Services and BMW Financial Services have also explored the limits of ‘paperless’ finance systems.
A full interview with Karl Werner of MotoNovo will be published in the March issue of Motor Finance magazine.
richard.brown@timetric.com
