Findandfundmycar.com has announced that it will “break free from tradition” by offering zero-cost advertising to dealers.
MotoNovo Finance’s motor division chief executive Karl Werner has called the move ‘a natural evolution of the service’ following its success since launch.
By breaking free from a traditional advertising payment model, findandfundmycar.com is enabling more dealers to add all of their stock to the platform, in hopes to live up to its, ‘by dealers for dealers’ founding principle.
Werner (pictured) said: “In January, we set out on a mission to redefine the vehicle aggregation market and create the most dealer-centric platform.
"We have proved that findandfundmycar.com can deliver results and now, we need to scale up and build upon the impact the platform has already had.
"The way to do this at pace is to a model that is similar to a ‘free subscription.’ Advertising on the platform is free, and payment is by results.”
Dealers who use MotoNovo Finance and advertise on findandfundmycar.com have a 15% increase in finance proposals and 8% rise in volume of finance written, while those who don't advertise on its have seen a 4% drop in finance proposals and a 7% drop in finance volume written, according to the company.
Werner said: “You can’t argue with the figures; the platform is helping dealers sell more cars and sell more finance.
"What we aim to do now is rapidly grow stock levels and enhance the customer experience, giving better choice and attracting an even larger audience.”
With the FCA closely reviewing the motor finance market, MotoNovo aims to assist more dealers to tap into the marketing potential of dealer finance and help create something that works for them and their bottom-line in an accountable, results-driven fashion.
“We have proved we can drive finance sales for dealers through the platform.
"We are backing the impact of findandfundmycar.com as a proposition that can drive finance and car sales with no up-front advertising costs,” said Werner.
“Dealers have an opportunity to become the disrupters by changing their vehicle advertising approach and trying something entirely new – something with a truly dealer-dedicated promise.”
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