Innovation-led car search network, Motors.co.uk, will promote its brand new monthly payment search functionality in a major TV campaign launching later this week. Featuring the debut of a fresh character, Miss Smart Finger, the ads will promote the benefit of finding a nicer car than expected by introducing the ability to search within your monthly budget.
The advanced search by payment functionality, which launched onsite at the end of July, allows consumers to refine their search results to show only those cars which meet their financing needs in terms of deposit and monthly payment. In advance of the launch, hundreds of dealers upgraded at no additional cost to a finance calculator on their inventory to allow inclusion within the payment search.
Andy Coulthurst, managing director of Motors.co.uk, commented: “With more than three quarters of consumers using dealer sourced finance to purchase their new car[i], we believe that a monthly payment search is vital to improving the efficiency of the car search process and we will drive its adoption through TV advertising.”
The new advert introduces Miss Smart Finger using the monthly payment search to find her ideal car within her monthly budget. Miss Smart Finger is the latest addition to the campaign launched in March, which has been shown over 5,000 times and seen 272 million times across major channels such as Sky Sports, Channel 5, Comedy Central, Sky Atlantic and Dave.
Coulthurst continued: “The introduction of monthly payment search demonstrates our on-going investment in innovation to help our dealers sell more cars. We have received great feedback already, particularly around the principle of adding this feature to dealers’ accounts at no extra cost.”
The finance prices are all set individually by the dealer ensuring they have full control of the rates advertised. The technology is powered by iVendi who provide dealers with an easy set of tools to control the rates and the ability to upgrade to receive qualified finance applications.
Coulthurst confirmed that it is not too late for dealers to add their free calculator ahead of the TV launch. “We’re working with iVendi on a pipeline of set-ups to enable this functionality for more dealers in advance of the TV launch. Search by payment is an expected feature among consumers in other sectors and competitor providers in the car search market have suggested they will follow behind Motors.co.uk by launching similar products.”
Richard Tavernor, chief operating officer at iVendi, added: “We’re excited that Motors.co.uk has recognised the importance of finance to both dealers and consumers. The speed at which they developed their monthly payment search highlights the ambition and innovation in the business. Our solution puts the dealer in control of rates offered, supported by valuable business intelligence too, not to mention helping to meet the increasing regulatory demands on dealers.”
Dermot Kelleher, director of marketing and business intelligence at Motors.co.uk, added: “Our monthly payment search functionality provides dealers with the ability to meet the needs of consumers looking to find as much information as possible and catch them early in their search journey while they are still thinking about the best way to finance their purchase.”
[i] Finance and Leasing Association (FLA) data: 77.6% of private new car sales were financed by FLA members through dealerships in the twelve months to May 2015