Online Financing Improves Consumer Perception of Dealerships, Study Finds | Auto Finance News

Online Financing Improves Consumer Perception of Dealerships, Study Finds

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Customers who perform their car financing online are found to have a more favorable experience at the dealership, increasing the likelihood that they will return in the future, according to a new survey by SpringboardAuto.

SpringboardAuto — which connects consumers, lenders, and dealers through it’s mobile-friendly platform — conducted a survey among its consumers who had recently completed online financing. Consumers’ likelihood to provide the dealer a 5-star rating increases by 133% if they completed their financing online, the company found.

“I think it shows that consumers are embracing an online loan process, which in turn improves their perception of the dealer,”Jim Landy, chief executive and founder of SpringboardAuto, told Auto Finance News.

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