Auto Trader, has launched its monthly price search experience, supported by a multimillion pound advertising campaign beginning on Christmas Day.
The new functionality allows consumers to search for their next car based on their ideal monthly budget. It has been developed in partnership with Codeweavers. It has designed to help retailers attract more buyers and increase their finance penetration by promoting their own finance offers much earlier in the buying journey. It also supports consumers’ growing expectations of being able to search for everything they buy on monthly payments.
What sets Auto Trader’s finance proposition apart is the greater flexibility it offers retailers, as well as the breadth of lenders and finance options available to consumers. Retailers have the freedom to feature finance options from their own preferred lender. Also if a dealer is not authorised by the Financial Conduct Authority (FCA), car buyers will have access to up to 70 different finance products from 17 lenders through Auto Trader’s trusted finance partner, Zuto. This means that for more than 300,000 cars from thousands of retailers, there will be a finance option available to almost any buyer.
The fully integrated multimillion-pound advertising campaign will launch on Christmas Day and run until April 2018. It will celebrate the life events that trigger a next car purchase, as well as promote monthly price search as a great new reason to visit Auto Trader. Running across TV, radio, cinema and online, the campaign is expected to reach 41.5m UK adults, helping to increase awareness of retailers’ finance and all its benefits.
Commenting on the launch of monthly price search, Jason Biffin, Auto Trader’s Retailer and Consumer Product Director, said: “After months of comprehensive testing we’re thrilled to be taking the next step in creating a complete finance solution for retailers and consumers.
*“The ability for a consumer to search based on their monthly budget forms part of our ongoing commitment to help our customers profit through finance. Retailers regularly tell us that they’re missing out to high-street or specialist lenders. Today, we’re arming them with a competitive advantage; the opportunity to engage with car buyers at the very beginning of their car buying journey, not at the end of it.
“Our aim is to provide our customers with the tools and insights they need to succeed in today’s increasingly competitive market. With the launch of our far-reaching advertising campaign, we’re driving even more well-informed consumers to our marketplace with a monthly budget in mind. We’ll leave our customers to do what they do best and capitalise on the opportunities it will create.” *
Auto Trader customers can place their finance offers on their advertisements free of charge until 1st April 2018. For more information, retailers can visit: trade.autotrader.co.uk/products/dealer-finance