With 76% of consumers open to the idea of buying a vehicle 100% online, it is no surprise that lenders (and car manufacturers, dealers) will need to continue to position themselves to support digital transactions without letting compliance fall by the wayside.
Dealertrack’s Andy Mayers created a guide to tracking today’s virtual auto lending trends into 2021.
To get ahead and stay ahead of the pack going into 2021 and beyond, lenders will need to make sure they are evolving their business strategies to account for the following three virtual auto lending trends, as Mayers points out. They are:
1. New Security Measures for a Digital World
2. Automating the Funding Process
3. A Shift in the Auto Lending Dynamic
There is no getting around the facts. (Click on this link for the full article)
Also, ask me how Lucy can help car dealers with automated consumer credit decisioning, both for the prime and non-prime segments. Follow the links below for more information on our solutions.