Dealers have increasingly adopted digital retailing and other technologies over the past decade, with 90% now incorporating digital solutions into their sales process post-COVID. Despite this, the car buying process remains time-consuming and inefficient, with significant challenges such as negotiating chaos, a trust gap between customers and dealerships, outdated sales processes for new generations, and increased difficulty in obtaining lender approval.
In order to address these challenges, top dealers are implementing a technology-guided sales experience that builds trust with customers, ensures consistency in the sales process, and streamlines deals to F&I. By leveraging technology to tackle affordability, empower sales teams, engage with the new generation of customers, and optimize lender decisions, dealers can improve efficiency, increase approval rates, and enhance customer satisfaction.
By incorporating technology into the sales process, dealers can offer a guided or self-guided experience that puts customers at ease, reduces negotiation time, and leads to higher close rates and back-end profits. Moreover, technology enables dealers to adapt to the digital native Gen Z generation, improve employee retention, and optimize lender decisions for higher approval rates.
In a competitive marketplace, dealers that embrace technology to provide a guided sales experience will likely emerge as leaders. To learn more about implementing technology in the sales process, visit www.AutoFi.com.
Note: The image is for illustrative purposes only and is not the original image associated with the presented article. Due to copyright reasons, we are unable to use the original images. However, you can still enjoy the accurate and up-to-date content and information provided.
