Dealers know that transparency and flexibility are keys to success, but technology limitations restrict the services they can provide online. Kerri Wise, Chief Marketing Officer at AutoFi, and Kevin Singerman, the company’s CEO, have helped to pioneer and refine software that transforms auto financing into a straightforward, customizable process. At the 2023 NADA convention, CBT News anchor Jim Fitzpatrick got the chance to sit down with them to discuss their platform and how it can help storeowners better serve their customers.
Key takeaways:
1. AutoFi is an e-commerce platform for dealers, allowing them to sell cars digitally in partnership with lenders who provide transparent auto financing options.
2. Although digital retail has become commonplace in the auto industry, financing has lagged behind technological innovation, limiting the services dealers can provide online.
3. AutoFi will continue expanding its business relationship with consumer finance company Santander to speed up the pre-approval and sales process.
4. Improving transparency is key to improving profitability.
5. With AutoFi, consumers have access to a more flexible shopping experience, allowing salespersons to customize their approach based on the client.
“AutoFi Dealers have $200 More profit than non-AutoFi dealers.” — Kerri Wise
Notable background:
— Kerri Wise is the Chief Marketing Officer at AutoFi, and was named an Automotive News Champion of Diversity in 2021.
— Kevin Singerman is the CEO and Co-Founder of AutoFi, where he has successfully led the company for nearly 8 years.
Click here for more 2023 NADA Show coverage on CBT News.
Did you enjoy this article? Please share your thoughts, comments, or questions regarding this topic by connecting with us at newsroom@cbtnews.com.
Be sure to follow us on Facebook, LinkedIn, and TikTok to stay up to date.
While you’re here, don’t forget to subscribe to our email newsletter for all the latest auto industry news from CBT News.
