MotoNovo Finance claims that its MotoRate platform is working well for dealers.
Four months since its launch, MotoRate has seen a 16% higher acceptance levels for proposals, compared to a traditional pricing model
It so saw 55% growth in payouts for ‘A1’ high quality applicants, versus a decline of (2%) for dealers adopting a traditional pricing model
There was a 24% year to date, increase in A1 high quality proposals.
MotoNovo Finance, CEO Mark Standish said: “The data on the impact of MotoRate is compelling. Dealers embracing the model are welcoming more finance customers and increasing their acceptance levels. The performance gain is primarily linked to dealers newly-established capacity to meet the finance needs of higher quality customers with a competitive rate.”
“The model provides more reasons for more customers to choose a car and finance from a dealer and it creates good outcomes for everyone involved.”