In a recent survey by HPI only 11% of car buyers surveyed said they would take out finance through a dealer. HPI found that 56% of of those looking for finance through dealers said that the rates were not competitive and 52% believed that there were fewer finance options open to them. 74% said that they were not worried about using credit for their next car purchase, however as the survey suggests they are less likely to look to dealers as a source for this credit.

Webzation's view is a simple one; dealers need to ensure they promote finance as effectively as possible. Dealers have some great USP's when compared to Direct Lenders and need to ensure these are made clear to the consumer at the point they are researching their funding options. With the ability for consumers to compare personal and secured loans online through a multitude of price comparison sites dealers need to ensure their finance options, including the benefits they offer, are displayed in a comparable way within their website. Many dealers often share the concern that their finance may look uncompetitive unless they cut all their margin. This is where the creative use of products such as PCP can provide a USP. Allowing consumers to view vehicles with exact PCP quotes which they can customise ensures that the dealer finance offer is completely unique and can't be compared.

One things for sure, if the majority of consumers carry out their research for vehicles and funding online and dealers don't make their offer available until the consumer enters the showroom (and after they have conducted their research) then more often than not the consumer's mind will be made up and they will most likely not take dealer finance.

Talk to Webzation to find out how we can help you ensure every consumer who visits your website is fully aware of the wide range of finance options open to them through your dealership and to dispel the myth that dealer finance is uncompetitive.