The automotive industry has historically relied on brick-and-mortar dealerships, but recent financial and technological innovations provides fertile ground for optimizations in sales. Dealerships have the opportunity to greatly boost revenue and customer scopes by offering lending services and providing sales journeys, but developing the infrastructure for such services is expensive and complex.
AutoFi provides a commerce platform for the automotive industry, offering dealerships tools for technology-driven online and showroom commerce, lending APIs, banking connections, and customizable sales journeys. The company's partnerships include automotive lenders such as Ford Credit, Santander, and Wells Fargo, helping dealerships to improve the affordability of their products while ensuring customer data compliance and protection.
Whilst the services that AutoFi’s technology facilitates are nothing new, many dealerships are unable to provide them due to a lack of connection with banks and credit providers, and the company has been smart to recognize this. Through its unified platform of customer experience and affordability tools, the company claims it can help dealerships boost revenue, with deal time reduced by 70% by improving access to automobile lending.
Kirsty
Company Specialist at Welcome to the Jungle