It’s no secret that finance is increasingly top of mind for many car buyers. In fact, a recent survey by carsales revealed almost two-thirds of buyers required finance to proceed with the purchase of a vehicle.3
So, wouldn’t it make sense to expose those buyers to up-to-date and accurate finance options as soon as possible?
With carsales’ Finance Extension option, you can now do exactly that.
carsales’ Finance Extension allows OEMs and dealers to highlight when finance is available for a particular vehicle, and provides information about repayment estimates right alongside the purchase price.
Opting into Finance Extension means that finance information is displayed against all eligible live listings, nested for clear visibility in the driveaway pricing section of the listing.
Prominent branding for the relevant financial service provider is also featured, offering an easy call-to-action for consumers looking to get into their next new car with less transactional stress.
Several key brands have already experienced success with carsales Finance Extension, reporting shorter delisting times and higher delisted prices.1,2
A prestige European OEM has reported that cars are delisting an average of eight days faster when Finance Extension is applied to the ad.1 According to Deloitte’s 2022 Dealership Benchmarks report, this can mean a reduction in holding costs of up to $18004 on new vehicles and up to $3764 on used cars.
Another key OEM has reported that vehicles listed with Finance Extension delist at higher average prices – over $1900 per car.2 Higher delisting prices and lower holding costs mean one thing – a stronger bottom line for your business.
Demand for car finance remains strong. Importantly, carsales internal data indicates finance penetration will trend upwards in the future with younger buyers more likely to use finance than other demographics.5
In fact, almost one in three ‘Millennial’ consumers and nearly a quarter of ‘Gen X’ consumers are “more likely” to use finance when purchasing their next new vehicles.5
carsales Finance Extension is an affordable and highly effective way to engage these buyers, as well as older Australians, across all stages of their car research and buying journey.
Contact your local account manager to see how your brand or dealership can benefit from Finance Extension on your listings.
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