Finance deals can make buying a car more affordable

Those buying cars should be reassured, at the point of sale, that finance deals help cars remain extremely affordable despite price rises brought about by the weakening pound.

This message is coming loud and clear from motor trade e-commerce solution provider, iVendi. The firm says that careful consideration needs to be given to the way in which dealers are talking about car affordability.

The Society for Motor Manufacturers and Traders (SMMT) has announced it expects the price of cars to increase by 2-3 per cent in the first months of 2017, but this shouldn’t put buyers off, providing car dealers are able to promote finance deals correctly. James Tew, the chief executive officer at iVendi, explained: “[The fact that prices are expected to rise] has the potential to put off customers who were thinking of buying a new car but the solution is to ensure that the affordability of the vehicle through your motor finance offering is stressed wherever possible, but especially online.”

Car dealerships can promote the value of finance deals by redesigning their websites to incorporate illustrations of finance deals alongside the pictures of the cars available to buy through the dealership.
Being more specific, Tew added: “We advise dealers and manufacturers to ‘anchor’ the finance offer next to the vehicle so that even if the customer navigates away from the finance page, the key facts of the finance offer remain clearly visible next to the vehicle.”

Car dealers looking to ensure sales aren’t affected by the expected rise in prices will do well to make some changes to the way in which they market car finance deals. They can reassure potential buyers that the growing range and accessibility of car finance is still ensuring that buying a car is within the reach of more and more people and that small price rises won’t affect this.

An integral part of providing excellent customer service to those looking to buy cars is for dealers to ensure that they are fully covered by a comprehensive motor trade insurance package.