Why findandfund is improving the car buying journey

A few months ago we gave you the top 5 reasons to get your stock on findandfund, and three years on from launch findandfund is still the place to be. Delivering record volumes of car sales leads in recent months, findandfund is helping dealers unlock customer demand during lockdown.

Here’s the latest:

• Driving finance sales: findandfund directly influences 15% - 20% of all volumes written by MotoNovo Finance each month. That equates to more opportunities for your dealership to boost finance sales, offering customers our latest MotoRate finance option.
• Generating valuable leads: findandfund generated 45% more leads for dealers in 2020 compared to 2019. Finance cases are also up 25% comparing the same time periods, a positive sign of buyer interest amidst a global pandemic.
• Promoting safe selling: 80% of our dealers are offering a home delivery service and findandfund makes it easy for customers to understand what’s on offer. From the car listing page, they can quickly see if home delivery is an option and reach out to the dealer to find out more. Soon, dealers will also be able to display their click & collect options.
• Delivering an online journey: Fully enabled on findandfund, MotoRate helps dealers advertise their lowest available rate and gives customers the option to generate a finance quote that’s tailored to their personal circumstances. Our Self-Serve option means customers can complete the finance aspect of the journey from the safety and comfort of their own home.

“We launched findandfundmycar.com three years ago, recognising that the car buying journey was moving online. Even pre-Covid, more often customers perform research and find their vehicle digitally rather than through the traditional model of visiting a dealer. We recognised that, but also know the importance of the vital contribution dealers make to the car buying journey via their own websites and showrooms.

With the recent lockdowns, the need for online journeys is accelerating due to necessity and we’ve seen a significant proportion of the dealers on the platform start to embrace click & reserve, click & collect and click & deliver models. Currently, 80% dealers our dealers are offering a delivery service. This has been incorporated into the customer journey with clear sign posting on site and it’ll be enhanced with ‘click & collect’ in the near future. In addition, within our Quote & Propose solution on dealers’ websites we’ve introduced a reserve functionality to help dealers move to fully online journey. 

Our own research shows that this trend may not be temporary, with customers becoming more familiar and more willing to purchase cars online. However, with many still wanting a hands-on experience with expensive products, it highlights the importance of delivering a strong experience early on in the journey. In particular, the move to ‘click & collect’ would seem to be the most preferred model as many customers want to view the car in person before fully committing to the car purchase.”

Phil Morgan, Head of findandfund