Close Brothers Motor Finance accelerates its digital offering with dealer finance calculator
Close Brothers Motor Finance has strengthened its digital offering by giving motor dealers online finance calculators for their websites.
The impact of Coronavirus, and the UK’s national and local lockdowns, has made customer-facing digital tools central to the vehicle buying process. To support customers, dealers and brokers, the company has embarked upon an ambitious plan to enhance its digital offering.
The branded finance calculator gives customers the ability to compare finance products side by side, while also providing them with a representative example of what the monthly payment might be for the vehicle that they’re interested in.
Customers can change the duration, deposit and mileage, giving them additional flexibility. Customers who wish to ‘apply for finance’ will be directed with ease to the online proposal form and submitted proposals will drop into the dealer Showroom platform. The feature will be available to eligible dealers who use Showroom, strengthening Close Brothers’ already competitive dealer funding proposition. A phased roll out plan will ensure that dealers are equipped to utilise the calculator as digitisation progresses.
This development is another step in the company’s roadmap to evolving its digital capability, which has included a recent advancement of its API offering. Dealers now have a direct route to the company, enabling them to submit proposals and monitor the status of the agreements via the API service. Earlier in the year, the business bolstered its Showroom platform with Remote Quote and Apply in partnership with Codeweavers - supporting dealers and customers who wanted a more digital journey in the early days of the pandemic.
Seán Kemple, Managing Director at Close Brothers Motor Finance said: “The car buying experience has come on leaps and bounds in recent years, but the past few months has accelerated the need for enhanced digital options. We have been supporting our dealer and broker partners and have listened to them about the digital tools they need to enhance their customers’ purchasing journey. And we have accelerated our digital plans as a result.
“We’re ready to start providing finance calculators to our partners, providing support for customers researching the cost of finance, while also giving dealers leads to start finance conversations with potential customers earlier in the buying process – all contact free.
“The latest developments further ensure our dealers are provided with the tools they need to meet the everchanging demand. Even if life does go back to ‘normal’, enhanced digital engagement will be invaluable.”
The calculator is delivered in partnership with financial technology experts Codeweavers and is available to selected UK based dealers now.