Move Financing Applications Online

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Approved car loan application form lay down on wooden desk with rubber stamp and calculator.

When a customer enters a dealership, sales people will often encourage them to fill out a credit application right away. Once a customer is committed to financing, they’re more likely to follow through with a purchase than to start the process over again with a competitor. When financing is approved,  you’ll both have a better sense of the budget you’re working with and gain a better vantage on finding that perfect vehicle for your customer.

A financing application can be one of the most important parts of finalizing the sale of a vehicle. Many dealerships are already moving this process online, but it isn’t for the sake of minimizing its role.

 

Online financing applications are just one feature in a wave of new online software capabilities available to dealerships looking to increase the performance of their website. By offering services like 24-hour live chat software and online credit application forms, you can learn how to increase leads for your dealership and enjoy a huge boost in sales. Here are some advantages that dealerships experience just by introducing an online credit application:

Seal The Deal On New Customers

Imagine if even half of your customers were already approved for financing before they set foot in your door. By offering credit applications online, not only will you get potential walk-ins started on financing before they arrive at your dealership, you’ll hold on to customers that might otherwise only browse a few photos, check prices, and then move on to a competitor’s website.

That’s because the same rule applies online as in the dealership: when a customer submits a credit application, they immediately get more invested. They’ll also become more interested in visiting your showroom floor and speaking to your team in person.

Save Time On Sales

As an auto dealer, you know very well that the process of buying a car is time-consuming. The majority of this transaction is done on your side, involving a sales team, sales managers, and financing and insurance departments. Meanwhile, the customer spends this time getting bored and frustrated – perhaps even hesitating in their decision to follow through with the purchase.

 

A new generation of auto buyers are speeding this process along by completing as much as possible online before they enter the physical dealership. New online services are something that customers are regularly coming to expect. They’re also an advantage to dealerships, since they free sales personnel to attend to other customers.

Give Customers Help Through A Chat Service

 

By adding a 24-hour live chat service to your website, you’ll offer more than a web form. Not only do people tend to avoid filling out web forms, they tend to despise them! When there are a thousand amusing things to do online just a click or two away, it’s important to encourage customers to stay focused with the help of a live operator.

If there’s one key point to take away from the success of online auto credit applications, it’s that the world of auto sales is changing rapidly. Stay up-to-date with the latest developments available to dealership websites or else you’ll risk losing customers to those who do!

Author: Ryan Yarbrough