Today on Inside Automotive, we’re pleased to welcome back Aaron Bickart, Executive Vice President and General Manager at OfferLogix, to discuss why penny-perfect payments are essential to the customer buying experience today.
From Bickart’s perspective, providing penny-perfect payments is the ultimate customer experience, and it is the core of what OfferLogix does. OfferLogix’s patented API allows vendors and their dealer partners to maintain penny-perfect payment calculations using data from multiple lenders, OEMs, trade-in values, FICO scores, and compliance regulations. Bickart says the reality is that without penny-perfect payments, the customer experience cannot reach its full potential.
Bickart goes on to explain that digital retailing is the caboose of the modern car-buying journey. These tools are designed with the end of the journey in mind, but Bickart says consumers start researching and shopping online much earlier. OfferLogix’s patented API ensures consistent penny-perfect payment calculations across the entire journey.
If your advertised payments begin to fluctuate and change, then the consumer might distrust your dealership, no matter how big or small the discrepancy.
While OfferLogix does not sell its products directly to car dealers, its API helps vendors come up with payment plans under any combination of terms in milliseconds. It takes one call to OfferLogix to acquire this information, for other companies, it might take 25-30 calls, says Bickart.
One of the next steps Bickart is working on is making sure penny-perfect payment calculations are compliant with the emerging EV market. Bickart also shares that OfferLogix has a brand new solution coming out next month that will combine two products together and create the ultimate engine for their B2B partners. Stay tuned for that upcoming announcement.
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