The consumer survey was designed to find out why some car buyers opt for direct lenders rather than dealer finance. The results may surprise dealers and dismay many sales managers.
The Black Horse Motor Finance ‘lost sales’ research into the decisions of carbuyers, and the processes they encountered in showrooms, indicates that it’s what happens at the dealership that could account for the growth of personal loans for motor finance as much as the aggressive marketing of direct lenders.
But the research also shows that the remedies for rebuilding crucial retail finance share are not beyond the grasp of dealers.
AM will report the results and the implications of the Black Horse survey in full in the next issue (September 10).