Self-service motor finance to rise

Self-service motor finance is set to become a major trend in 2016, according to iVendi.

The dealer online technology firm have said that technology to allow customers to work through their own choice of finance products, quotations and applications has become more widely available, and that car dealers were looking to implement it on websites and in showrooms. This hints that the rise in self-service motor finance applications will increase.

iVendi CEO James Tew said, ‘There are several converging strands coming together that we believe will really put some momentum behind self-service finance this year.

‘One is simply that the technology is now proven to work well while another is that customers have become very well-versed in using online comparators in all kinds of areas such as insurance and holidays.

‘However, the real driving force is simply customer empowerment. In a post-FCA motor industry, there is a realisation that putting as much of the motor finance process as possible in the hands of customer works well for all parties.’

iVendi have also announced self-service features form a part of the new version of Platform.

Tew added, ‘The Platform is designed to provide the means to manage all of your motor finance activity and the new in-showroom micro comparator is a key element and, we believe, a genuine innovation.’