Ally Financial Inc. is focusing on delivering “superior service” and its value proposition to digital dealers through TRED, following the lender’s recent partnership with the online-used car marketplace, Doug Timmerman, president of Ally Insurance, told Auto Finance News.
“We are focused on how do we really best deliver on our value proposition — which when we talk about value proposition that is, how do we help our partners optimize F&I results, and that includes optimizing the consumer experience,” Timmerman said. “Doing all of those things in a way to ensure that we and our dealers are compliant is critically important. Those are our focus points. I think the digital space is one that is evolving faster, and that’s an area we will put more focus on along the way.”
Ally is gearing up to roll vehicle service contracts and guaranteed asset protection (GAP) directly into online-used car marketplace TRED “shortly,” Timmerman added. Essentially “everything is ready” on Ally’s side to launch the F&I products, Timmerman said. “TRED has a few more things to finalize on their side before it’s live. We think it will be live shortly.”
Back in April, Ally Financial rolled out financing for peer-to-peer auto contracts through the TRED platform. The move is part of Ally’s overall strategy to appeal more to millennial borrowers, according to a company press release.
Ally’s value proposition to optimize F&I results and the consumer experience centers around making sure consumers are educated about the products that are available to them — whether the lender is face-to-face with the customer or digitally communicating with them, Timmerman added.
“The more education that you can provide, the more you can help the consumer tailor decisioning to their particular circumstances,” he said. “I think when you do it right, your sales are higher as well. The icing on cake is not only are sales results better, but customer experience is going to be better.”