By Tony Willard
The Finance & Leasing Association says its redeveloped consumer website, due to be switched on by the end of last month, provides information “like having a friend in the motor trade”.
Head of motor finance Paul Harrison added: “Our new Financing Your Car site is impartial and gives insight into how car finance options work so people can make informed decisions. It is designed to talk car buyers through complexities and simplify jargon, helping them to be more informed when visiting a showroom.”
Harrison said the ask an expert function gives consumers the chance to email the FLA if the site does not answer a question for them. “We’ll respond and archive that question in FAQs, so over time the site will grow and change to reflect what people need,” he said.
The FLA initiative comes as analysts say digital’s rapidly grow-ing influence on retail buyers’ research and selection is embracing loans as well as cars. Dealers are urged to operate websites with loans offered online.
James Tew, director of iVendi, which sells online methods to simplify car sales and loans, expects some dealerships to become collection points as business goes online.
“Dealers should ensure finance offers are the same online as in showrooms,” he said. “We need to stop using the phrase ‘point-of-sale finance’ as it no longer applies.
“People prefer finance quotations before visiting a showroom. They also want to know whether they will get credit on a particular car deal and dealers should provide this information online.
“The choice of car is an emotive issue, but not the finance.”