Online classifieds are changing very quickly. Portals are continuing to add new features and tools to make it simpler for consumers to purchase cars online. However, more and more consumers desire to solve their financing problems online way before they go to any car showroom or dealership so they can make the best choices before they buy.
At the same time, the market is seeing significant structural change with consolidation taking place. There are now fewer more powerful players in place, aiming to tackle market leader Auto Trader, which is now targeting the new car market. It wants to “become in new cars what [it is] in used”. This is on both sides of the fence, helping dealers source, dispose and move vehicles, and aiding customers in finding the car they want. This will all, eventually, lead to a customer being able to complete online transactions for car purchases.
Part of this journey is the implementation of Auto Trader’s Vehicle Checker system. In its research, Auto Trader found that 77% of car buyers would be more likely to contact or visit a retailer if they could first see a full clear vehicle check on the ad.
The dealers front the bill for the addition of vehicle checker, but with it they can view a full online report of a vehicle in stock, and then share this information on the Auto Trader ad to reassure the buyer and increase the likelihood of a visit.
The software is also capable of advising the buyer on any issues brought up by the check, such as outstanding finance. In essence, Auto Trader’s plan is to make buying a car easier.
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