Here are key results to a survey by MakeMyDeal.com. Wards Auto says consumers are much more satisfied when they can view and adjust vehicle payment terms online vs. starting the process at the dealership. How can you improve the online shopping process?
That satisfaction comes from MakeMyDeal’s online platform. When 100 consumers were surveyed from June to September of last year, they were simply asked how satisfied they were after receiving price or payment quotes without using make my deal’s platform.
The consumers ranked their experience a four on a scale of one to seven. Once they used the tool, the same consumers rated the process a 5.29.
Mike Burgiss, GM of MakeMyDeal (and a frequent guest on CBT News) told Auto News that consumers prefer having access to an online process because they want a clear view of the monthly payment and financing, price, down payment and trade in.
Auto News says with the MakeMyDeal tool, vehicle price and interest rates are set by the dealership, but consumers can adjust their down payment or loan term to get to a monthly payment they’re comfortable with. Burgiss adds, “Determining their own payments makes consumers feel empowered and involved.”
Dealerships still have a say. According to Burgiss, after the consumer sets the terms to his or her preference, the dealer can respond and send a proposal to the consumer.
