V12 Vehicle Finance (V12VF) and Moneyway have partnered with Codeweavers, to launch a new digital finance calculator to support dealers and their customers.
The finance calculator will automatically match customers with a Prime or Near Prime product, ensuring that the customer understands what their finance terms are and their monthly payments.
From the dealer’s perspective this means they can reach a wider range of customers.
David Nield (pictured), managing director of V12 Vehicle Finance, said: “The ability to provide finance deals based on the customer's financial status makes our used vehicle proposition unique to the motor finance industry.
“Our joint vision with Codeweavers is all about blending the online and physical space to improve the car buying experience for dealer customers. This is all part of our vision to make it easier for our dealers to sell more used vehicles more often with automatic referrals to Prime and Near Prime.”
The finance companies say the integration of the new software on a dealer's website will give customers “flexibility and peace of mind” when purchasing their next vehicle, by making it clear from the beginning of their journey what they can afford.
This new functionality is also expected to save time for retailers, reducing the need to resubmit finance applications to additional lenders.
Alan Cooper, sales director - Affiliation and Partnerships of Codeweavers, added: “We have been working alongside a number of Lenders within the UK market, including V12 and Moneyway, helping provide more clarity and a better experience for customers when buying their next vehicle online, based on their financial status. We feel this calculator allows us to replicate V12's and Moneyway’s proposition in this marketplace.
“Customers interact across many touchpoints and businesses, including retailers and lenders, during their car buying experience. Working together with our partners, we can help to provide a connected experience, providing more clarity for customers earlier in their buying journey.”