“VR needs to go to a place where discovering and filtering cars around questions such as affordability and other earlier parts of financing — are answerable in virtual reality,” said Gaurav Misra, Vroom’s chief marketing officer
Preliminary knowledge of real-time inventory and data around what cars are in stock, the exact price the car will sell for, and various high-level stats, are essential to a consumer to shop for cars online in a comfortable and secure way, Misra said.
“Vroom’s real-time simulation allows borrowers to compare hundreds of cars side-by-side in minutes,” he said. If a person is in the market for an SUV, and there are 70 to 80 models, it can be a daunting task to try view and test drive them all in real life, Misra added.
Vroom’s VR showcase also features a 360-degree virtual test drive of any vehicles in stock, potentially saving lenders from the hazards of losing vehicle value from the wear and tear of physical test drives, according to Misra.
Upon receiving a credit application, Vroom does a soft credit inquiry, directly integrated with Vroom and its respective partnered lender, he said. Vroom is an online car selling platform partnered with over 30 bank lenders, including Capital One, JPMorgan Chase, Wells Fargo, Bank of America, TD Auto Finance.
For more content like this, check out the upcoming Auto Finance Summit, October 5-7 at Bellagio Las Vegas. Visit www.AutoFinanceSummit.com for more information.