Findandfundmycar.com, MotoNovo Finance’s aggregation platform, helped generate 55,000 finance proposals for the motor finance funder since its launch last year.
MotoNovo’s latest figures, based on internal research, show over 55,000 finance proposals being received where findandfundmycar.com played a part in the customer car search journey, while dealers using the platform experienced a 13.5% uplift in finance volumes in 2018.
MotoNovo said there were now more than 136,000 vehicles available on the site for customers to choose from and over 2600 dealers accessing additional finance and cash leads from the platform. The company has already announced some key changes following dealer feedback and market insight, including the decision to offer free advertising on the site since September 2018.
MotoNovo chief executive officer Mark Standish said:“The platform was created to disrupt the market and make car-selling feel better for used car dealers. By listening to our dealer audience, we’re able to meet this brief by adapting our approach continuously to create a platform that works for them. We’re seeing that this approach feels refreshing to the many dealers who are joining us and helping to strengthen our dealer-friendly aggregator that’s designed to benefit both dealers and their customers.
“Latest improvements to the platform have included displaying recently viewed and recently added vehicles, showcasing all car stock from the same dealer, and the addition of vans and bikes to the site. These enhancements will continue and we expect the pace we can introduce them will also increase as we continue to improve the customer experience on the site through 2019. First and foremost, findandfundmycar.com is a platform to help customers find cars and help dealers sell them.”
MotoNovo, owned by South African baking group FirstRand, is seeking a competitive edge on rivals by integrating its books with challenger bank Aldermore, which was acquired by FirstRand in November of last year. The integration project is being carried out from both directions, with Aldermore launching a vehicle teams of its own in January 2019.