New Ford Platform Automates Entire Purchase Process
Coming to Ford Motor Company dealerships soon: a new platform that provides a fast and easy way for customers to purchase or finance a new Ford or Lincoln vehicle in minutes, on a dealership website, from anywhere, on any internet-connected device. Produced by Ford Motor Credit Company and financial technology company AutoFi, the new platform has been introduced at Ricart Ford in Groveport, Ohio, and will soon roll out to more U.S. Ford and Lincoln dealerships. The platform, says Ford, makes financing a new Ford or Lincoln faster and more convenient, at a time when many U.S. adults say they want to limit their time at dealerships to simply signing the papers and driving the new vehicle off the lot.
“By combining our fast and efficient credit-decision process with AutoFi’s online capability, we are making the customer experience faster, smoother, and simpler,” said Lee Jelenic, Ford Credit director of mobility. “With its experience in used-vehicle online financing and well-developed platform, AutoFi makes it easier for us to adopt new technology quickly to meet evolving consumer expectations.”
Harris Poll recently conducted a survey of 1,000 U.S. adults, on behalf of Ford, which revealed that 83% of Americans say they would like to spend as little time at an automotive dealership as possible when shopping for or buying a car. However, they still appear to enjoy the hands-on process of examining the vehicle and the ceremony of finalizing the purchase. This platform, says Ford, allows the customer to do all that, but much more quickly and easily.
Customers who enjoy the process of wandering the showroom may still do so, but if they’d rather shop from home or from their favorite café, they can select a vehicle, apply for credit and receive a decision, choose the financing terms that make sense for them, and then review and select optional vehicle protection products—completely online on their own time, via their mobile phone, tablet, or home computer. Customers can then review a final summary of the financing terms and schedule a time to complete the transaction and pick up the vehicle.