AFS 2019: TFS to launch car-buying website with preapprovals [Video]
LAS VEGAS – Toyota Financial Services, in partnership with OEM Toyota Motor Corp., is piloting a product that will enable consumers to shop inventory at participating dealerships and secure preapprovals online, Carrie McNamara, TFS national manager of customer and dealer experience, said Wednesday at the Auto Finance Summit.
Currently, seven or eight dealers are piloting the product, which is called SmartPath. The captive will introduce it to more dealers in the coming months and is slated to launch the program nationwide by April 2020, McNamara said.
“The idea is to make it so it’s seamless, so if you’re sitting at home and looking at inventory, you can essentially connect with your dealer in that way when you’re ready to buy and lease,” McNamara said. Consumer information is stored in the platform, so personal information and vehicle preferences do not have to be reiterated once at the dealership, she noted.
