Dave Edwards Toyota is looking to increase opportunity for car sales by generating more finance leads from their number one source, the dealer’s website! The typical online credit application on a car dealer’s website is non-engaging, overwhelming and cumbersome, causing most consumers to leave the site and search for a user friendly alternative. After reviewing the analytics behind Dave Edwards Toyota’s website, Dealer eProcess was able to verify that 99.5% of the time, customers leave the finance page without submitting their information! These numbers were even worse for mobile traffic which represents 35% to 40% of most car dealer website traffic today. For customers who started the credit application, an additional 45% abandoned the form when asked for their social security number. The current strategy to generate additional opportunities was not working.
How we did it.
Virtual Credit Consultant – This Dealer eProcess software was developed specifically for auto dealers looking to pre-qualify customers on their websites, including desktop, mobile or tablet, while using real time TransUnion credit scores. The Virtual Credit Consultant, powered by CreditMiner, does not ask for a social security number and utilizes the “soft pull” method, meaning the credit check will not show up on the consumer’s credit report. These two factors alone will increase the number of credit applications a dealership receives without impacting the consumer’s credit score or history. The Virtual Credit Consultant walks potential buyers through three simple steps of getting financed with an instant pre-approval and a firm offer of credit in real time. For customers who do not qualify, there is no embarrassment involved. The Virtual Credit Consultant and its assets are placed on the dealer’s website in strategic areas to engage the customer into the pre-approval process. CreditMiner’s Virtual Credit Consultant integrates with any website provider.
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