Driving the Car-Buying Revolution
June 9, 2020
When it comes to digital retail, car shopping has not kept pace with other products and services that can be purchased entirely online. It’s no secret that the auto industry as a whole is behind the digital curve when it comes to the car buyer’s experience.
However, that is now rapidly changing. The vast majority of consumers rely on, and expect, a digital experience, whether that’s through websites, mobile apps, or social media. According to a recent Google/Comscore study, a whopping 95% of car shoppers research online before setting foot on a dealer’s lot.
Credit unions are increasingly turning to solutions like Origence’s AutoSMART to deliver a next-generation, digital car-buying experience to their members. The Strategic Link partner’s auto-shopping site can help credit unions remain relevant and top-of-mind with members who are in the market for a new vehicle.
“The goal is to help credit unions engage the member very early on in the shopping process and then keep them engaged as they buy the car,” said Jason Samson, Origence’s Senior Director, Digital Experience. “And streamline the process so that much of it is completed online before they need to step on the lot.”
AutoSMART offers shoppers access to over 2.8 million vehicles from 14,000 dealerships nationwide while delivering a member-centric car-buying experience, advancing member loyalty, and helping credit unions retain more member car loans. The site includes a “Pricing Guidance” tool that compares the price of a car offered at a local dealer to others in the market, ensuring the credit union member receives a good deal.
Origence’s CUDL network of credit unions continues to be the largest auto lender in the country — more than 900 credit unions have incorporated the AutoSMART website as part of their member offerings.
“Consumers are no longer just looking for vehicle and dealership information online,” explained Samson. “They now expect features that simplify the entire experience, such as pricing comparison guidance, robust trade-in functionality, and the ability to reserve a vehicle on their mobile device.”