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Launched in 2018, the findandfundmycar.com ecosystem has evolved continuously by listening to dealers and customers and leveraging new and emerging digital best practice. From the outset, the operating proposition was and remains ‘by dealers for dealers’ and as Head of findandfund, Phil Morgan reflects, this collaborative ethos has come to the forefront in a rapidly changing marketplace; 

“As the first lockdown period came into force last year, our no listing fees approach gained immediate popularity. Critically, dealers benefitted from our unique online car sales and dealer finance model. The platform’s online dealer finance capability became an integral part of many dealers’ click & collect and click and delivery service, closing sales and supporting finance as a profit centre.” 

Today, a new clean look for the findandfundmycar launched in early 2020 is the most immediate sign of the platform’s evolution. However, it is in behind-the-scenes investment in digital expertise and capabilities that the platform has developed most of all. Easier to discover and use for buyers and increasingly more respected by crucial search algorithms, the platform has increased its online reach and reputation. It is a fact reinforced by how competitors are leveraging findandfundmycar search terms to enhance their online impressions; it is a great compliment. The platform is seeing momentum build steadily as Phil reflects;

“With more stock than some of our key competitors, we see more site traffic. That traffic is more engaged than ever tailoring their vehicle search, accessing dealer review ratings and ‘parking’ potential cars ready to take interest to action. The most telling data is around finance. People are spending longer and going deeper into the online financing capability; with more going all the way to purchase. Finance volumes for us and our dealers are significant.”

Working with 2,500 dealers across the UK and showcasing over 144,000 vehicles, findandfund is gaining more traction. Leads increased by 41% in 2020 compared to the previous year with financing applications continuing to rise. Accepted finance applications increased by 33% last year highlighting that people are still continuing their car buying journey, even through lockdown. 

It is in the online finance journey that Phil believes findandfundmycar can add even more value to dealers and customers by offering our risk-based pricing model, MotoRate, as the Financial Conduct Authority (FCA) rules on the ban of discretionary commission models come into play from January 28th, concluding:

“As we head to a new era of transparency for finance, dealers can use our highly impressive MotoRate pricing model on findandfundmycar. Since its launch, MotoRate has increased dealer finance penetrations markedly. Now potential buyers can flex quotes and use a self-assessment tool to create a personalised finance offer based around their credit profile. We expect its impact to be significant.

“The last three years has been a great learning journey. Today, we are increasingly confident that a truly customer led and dealer-dedicated, collaborative car and financing marketplace driven by accountability will be the ideal tool for dealers looking to build their omnichannel business.” 

We've started findandfund's birthday off with a bang with a week full of celebrations across our social channels, showing off exactly what findandfund has to offer, posting daily insights into the world of findandfund. From the most popular searched car brands to the the roadmap of where it all began, we're taking our followers on a journey of celebration. In true findandfund style, we're also giving our followers the chance to win a £250 Amazon voucher by guessing the top searched car on findandfund in 2020! You can keep up with the latest news from findandfund on Facebook, Instagram and Twitter.

With 2,500 dealers and over 144,000 vehicles, findandfund has been on a journey. In celebration of its 3rd birthday, Head of findandfund, Phil Morgan reflects how the platform is continuing to attract customers and be a valuable asset to dealers...

findandfundmycar.com celebrates its 3rd birthday

As we head into 2021, I encourage everyone to reflect on 2020 and the lessons we can take away from the unusual year. At the heart of my thoughts are agility and a willingness to change. Here are five lessons that I think we should keep;

The challenge faced by motor retailing could be a positive thing

On balance, I believe changes made to survive, notably in embracing an omnichannel approach during lockdown, can help secure the future for car retailing and limit the impact of disruptors. The recent devastation of well-known High St brands who failed to embrace online fast enough illustrates my point.

    2. If it can be done online, it will be

I don’t doubt many people will still want to visit a showroom, but investing in an ever better online car buying and financing experience will be crucial. The better we make the online experience, the better the Showroom experience will be

     3. A personalised customer experience matters

If we don’t take care of our customers, someone else will – The FCA’s desire for fair customer outcomes as we gear up to change this month is not a challenge; it is excellent advice. Our capacity at MotoNovo, to help dealers to deliver genuinely personalised finance on a risk-based pricing basis has seen dealers increase their used car finance penetration dramatically and delight their customers at the same time.  

Never has this been more accurate. The value of service increased dramatically as people sought a safe, well-considered buying experience. This mantra is true for all businesses as they work with suppliers and customers.

     5. Our people make the difference

The workplace is changing; different roles and skill requirements are emerging – the importance of well-led, motivated and coached people in the roles we need is crucial.

Get a head start this year with our box set of tools and resources – click here to visit our Recovery & Reinvention Hub.

As we head into 2021, Deputy CEO Karl Werner, encourages dealers to reflect on 2020 and the lessons that can be taken away from a challenging year. Take a look at the five lessons to keep...

News - 2021

findandfundmycar.com celebrates its 3rd birthday

2020 lessons to be retained

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