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5 Clues to help refine online finance

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10th July, 2017

At Codeweavers, we have access to real-time dynamic information on the way consumers interact with dealers’ finance offers courtesy of our range of plug-in finance calculators. It is an insight that can help dealers to develop a data-driven approach to the use of finance online to market their stock.

Codeweavers Sales Director Shaun Harris sees hard data as an ideal complement to experience to help dealers to develop a more dynamic approach to the value of finance as a marketing tool, noting;

“I still retain my traditional affection for the value of experience and gut instinct when it comes to marketing cars, but I also find it impossible to ignore the hard facts coming from 855,482 unique customers who used a Codeweavers plugin finance calculator last month. Here are my top 5 clues to help dealers to refine their stock positioning”:

  1. Most popular search day – a Monday – so if you have ageing stock to move, this is the best day

  2. Most popular time of day 7 PM – so do make sure someone is available to handle leads into the early evening

  3. 38% of searches were via a smartphone and a further 13% via tablet, so do ensure your website is mobile friendly and that finance offers are readable

  4. 64% of quotes generated were HP, are your PCP quotes laid out clearly

  5. The most popular monthly payment sought was £200 pcm, you could change this as your default payment.

“I hope this insight proves to be of value; what the data certainly demonstrates is the sheer importance of having a finance calculator and supporting tools, such as explanatory videos, which are well used, to provide an engaging consumer experience,” concludes Harris.

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