Web 2.0 is here to stay, and “disruption” has become the buzzword of the second major technological and business boom to hit in the Internet Age (the first being the dot-com boom of the 1990s). Startup after startup is promising to revolutionize even the most mundane of industries, from retail shaving razors to buying airplane tickets to how your pets are groomed.
There’s been shortage of industry disruption when it come sto automotive sales, with companies like CarMax, TrueCar, and even non-specific operators like Craigslist proving to be real game changes in the sale of both new and used vehicles. More than anything, it’s the amount of readily available information and the ease of accessing it that’s caused the “disruption;” car buyers can find all of the information they want about each of the vehicles they’re considering with just a few keystrokes, and it takes only minutes to compare features and prices across dozens of dealerships.
Now a new company is promising to “disrupt” auto financing in the same way the car buying experience has been irrevocably altered, making it easier and faster to access and assess information to deliver loan decisions in minutes.
Car Lister calls itself the “social network for buying cars,” but it doesn’t just connect people for private party sales. It includes dealerships in its car-searching function, and it goes beyond that to connect lenders and to enable faster sales through quicker loan processing. Users’ credit information and vehicle-specific information is all uploaded and assessed in an average of two minutes, allowing dealerships and car buyers to take advantage of a more efficient process…
…and introducing an extra layer of competition to dealerships who get finance-based bonuses. While using Car Lister cand help dealerships process loans faster and close more sales, it can also connect car buyers to other lenders and give them more opoprtunities to head offsite for their financing. It may boost car sales for participating dealerships, but could cut into margins as well.
So, you and your customers get greater efficiency, but there could be a cost involved. Your best bet is making every other phase of the car buying process as smooth as possible, keeping your customers engaged with what you’re offering and giving them less of a reason to seek out alternatives. Accessible information and a streamlined process for efficient car buying from beginning to end—that’s what car buyers in today’s world and on the modern web are looking for, and that’s what startup-savvy dealerships will be ready to provide.
Car Lister might be shaking up the financing phase of closing a car deal, but Dealer Video Showroom can help you get more buyers on your website and through your dealership’s doors in the first place. There’s never been an auto sale without an initial contact, so make sure consumers are coming to you first by partnering with the leading provider of new and used car videos.