Consumers are experts at shopping online. The speed and case at which most goods can be purchased online has accelerated the development of digital retailing software in the automotive industry. The race is on for software companies to design dealership website tools that simplify purchasing a vehicle.
Dealers are also becoming more comfortable with the notion that they need to bring the sales and F&I process to the consumer before the showroom visit. Today, consumers can confirm that a vehicle of interest is in stock, estimate what their current vehicle is worth, and calculate a very accurate range of payments using online “first pencil” tools.
Today, the number of vehicle transactions that are fully completed online represent a small percentage of a dealer’s total sales. This will not be the case in years to come.
The growth in Digital Retailing has been slower than expected because the first generation of software tools were too clumsy. The current generation of trade-in tools are not frictionless. eAutoAppraise represents a quantum leap in design, functionality, and ease of use, which will help dealers solve the problems associated with their current online trade-in process.