MotoNovo Finance has launched a Self-Serve finance app that puts consumers to work on sourcing finance within the showroom. Following a pilot, MotoNovo installed the new software in the showrooms of more than 500 of its partnered dealerships.
The app will be offered by dealers in their showrooms, sitting alongside the traditional financing process. It is launched by the dealer in the showroom, which generates an email link to the customer who can access it immediately on their own smartphone, tablet or PC. This allows customers to create and compare multiple quotes to structure their ideal finance package. If the consumer is approved and wishes to proceed,
MotoNovo’s ‘MotoClick’ digital signature technology allows the customer to sign the document and complete the sale instantaneously. This means finance income for the dealer is protected and deals are paid out immediately, so it is a rapid and effective process for both dealer and customer.
Results from the product test period reported 90% of consumers saying they enjoyed the overall Self-Serve experience, with 94% finding the new technology easy to use.
MotoNovo Motor Division CEO Karl Werner, said: “The Self-Serve app provides a valuable new option to our dealers and a more secure, transparent and efficient offer for our customers too.
“With banks, direct-to-consumer brokers and even our favourite supermarkets increasingly offering a self-checkout service, it was vital that MotoNovo continued its proven record of progressing with the times and adapting to customers’ desires by creating something revolutionary, not only within our firm but within the car finance industry as a whole.
“Initial feedback from dealers has been hugely positive. They’ve confirmed it’s increasing productivity and, importantly, supporting the bottom line.