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Quicker loans, faster funds

MotoNovo says its MotoClick e-signature option helps customers finalise finance faster and speeds funds to dealers more quickly.

It is among products revolutionising F&I. Motor Depot’s car supermarket at Hessle, near Hull, told MotoNovo it received loan funds before its first MotoClick customer left.

DSG Financial Services is introducing QST (quote, screen, test), which puts all finance options for a customer on one page.

Director Tim Marlow expects more car buyers to use “backward calculations” by entering a payment to show a dealer’s stock of cars they can afford in their loan budget.

The Funding Corporation, which provides non-prime loans for used cars sold via its ACF Car Finance retail arm, encourages initial online applications.

David Challinor, TFC managing director, said that after assessing a customer’s suitability for a loan in principle TFC then spoke to them on the phone.

“We see more dealers having a quote facility next to stock examples – basic fixed examples are already old style,” he said.”

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