How to Streamline Auto Dealership Financing Mobile Technology
Auto Dealership Financing
The development of custom mobile apps for businesses isn’t a new idea, yet using mobile technology to streamline financing processes for auto dealerships is. While having a custom mobile app for customers is an effective marketing strategy, what about a mobile tool designed to help sales teams close the deal faster and more often? In this regard, let’s talk about how to streamline auto dealership financing with mobile technology.
Mobile Technology for Auto Dealership Financing
Essentially, we’re talking about giving sales teams at the dealership more tools to make the sale and quicken the F&I process. Mobilot™ is part of eLEND Solutions’ integrated suite of products, and is designed to give dealers the ability to track, manage, and work the sales and finance processes at or away from the dealership – all from the convenience of their mobile devices.
Auto dealerships and their sales teams will be able to see and manage: the customer’s information, selected vehicle, test drives, trade-ins, credit application, credit summary, and finance details – all from their mobile devices while making the deal in the car lot, during a test drive, or when away from the dealership. The information can then be sent to the F&I department or desk manager to further the financing process.
Practicality of Using Mobile Technology
At auto dealerships, customers either walk-in with no previous contact or have already started the financing process online or over the phone (Credit Plus streamlines this process). Either way, a sales person begins to help them through the sales and financing processes. Much of the sales process is accomplished away from a desk, which means away from a computer where the details can be imputed and figured.
With Mobilot ™, the sales person would be able to enter the customer’s information, the vehicle selected, and the variables involved, in order to see if they could pre-qualify and what terms are available – all while walking around the lot or during the test drive. This shows the practicality of using mobile technology during the sales process.
There are other practical uses dealers would find helpful in their day-to-day workflow as well. For instance, they would be able to help customers after hours or during their off time, by imputing the information remotely and using real-time automation to reflect any changes at the lot. The information could then be sent directly to sales managers or the F&I department to finalize the deal when the dealership is open again, or to complete a remote sale.
Sales teams would likely use Mobilot™ as their main tool during the sales process, because of its practicality in the day-to-day workflow. Most of the deal is made away from a desk, which used to mean the financing process couldn’t get started until the customer made their choice. Now, with Credit Plus, ID Drive, and Mobilot™ from eLEND Solutions, the financing process can begin away from the desk through the sales person’s mobile phone.
Mobile technology isn’t only directly for customers to enhance their online shopping experience, it’s also for sales teams at auto dealerships to streamline the sales and financing processes. Mobilot™ gives sales teams the tools they need to make the deal, save time, and work remotely. Everyone involved with the sales and financing processes will benefit from the streamlined workflow, especially the customer when F&I times are reduced from hours to minutes.
eLEND Solutions’ products are innovative software solutions that integrate seamlessly with enterprise systems at auto dealerships. Credit Plus, ID Drive™, and Mobilot™, work together to streamline the sales and financing processes and enhance the shopper’s experience. If interested in learning more please contact us today.
Author: Pete Maclnnis
Author Bio: Pete brings over 37 years of experience in automotive finance and technology as Founder and CEO of eLEND Solutions™. Founded in 2003 as DealerCentric, eLEND Solutions™ is an automotive FinTech company specializing in online and in-store digital credit, identity and finance solutions designed to create a more efficient and profitable vehicle purchase process for the retail automotive industry.