The connected consumer is compelled to research and compare vehicles online before setting foot in your dealership. This digital vehicle shopper is drastically altering the buying and selling landscape. Consumers in the market for a new or used vehicle will spend more time on the internet researching car deals and financing options than in the past. They stroll into your store with the particular vehicle they want fully vetted and locked down. Plus, it’s possible they’ve completed an online credit application from your website. These qualified buyers expect you to fulfill their wishes quickly.
That’s why in this age of all things digital, your dealership should consider adopting tools that could bridge the buyer’s online experience to their in-store experience, resulting in a streamlined vehicle purchasing process. From the grocery store to the gas station, everyone is familiar and at-ease with completing a purchase using a digital signature pad. Consider what sort of impression a dealer who uses outdated technology might leave on today’s tech-savvy consumers.
Faster Funding and Fewer Errors
Whether you’ve made the jump to eContracting, are just tinkering, or haven’t tried it at all, you should understand the benefits of a consistent eContracting program. When eContracting becomes a regular habit, you’ll gain something everyone always wants more of - time and money. Plus when you offer your customers a streamlined buying experience, you’re sure to see elevated CSI scores.
Financing speed is a considerable eContracting bonus. When you manage several thousands of dollars in contracts in transit (CIT) every day, you know that the turnaround time can make or break your bottom line. Compared to yesterday’s paper contracts, today’s eContracting can dramatically improve finance source funding time from days to sometimes minutes.
In addition, when you link your website’s embedded credit application with your eContracting tool, no longer will you have to resubmit paperwork due to missing information. In-field validation, when available, ensures all fields are accurate, or it can’t be sent in the first place. With built-in compliance checkpoints along the way, a tool like RouteOne’s eContracting can reduce or eliminate mistakes that result in held offerings.
The speed with which you can facilitate the funding process with eContracting elevates potential savings and boosts customer satisfaction.
Digital Documents Cost Less
Paper documents don’t talk to each other, but electronic records do. When your eContracting tool integrates with your DSP and finance sources, they share and merge data which eliminates errors and reduces duplicate data entry.
Also, paper documents must be sent by courier or via overnight shipping. There’s no such thing as a shipping fee when you send an electronic file. With the click of your mouse, a RouteOne eContract is sent digitally to the chosen finance source.
For a variety of reasons, you still might need to convert an eContract to paper occasionally. It’s always good to have options. With RouteOne’s Self-Service Paper Out functionality, you can switch to paper without missing a beat. Re-contracting is not necessary, so time spent filling out the original contract won’t go to waste. Having the ability to Paper Out a contract on your own should encourage you to start every contract as an eContract!
Flexible to Customer Demand
Take the digital shopping experience even further with our Remote Document Delivery and Remote eSigning features.
With RouteOne’s Remote Document Delivery service, you can electronically deliver deal documents to your customers for review before signature, while RouteOne’s Remote eSigning allows you to collect remote electronic signatures, both in the comfort of the customer’s home or office.
RouteOne’s Remote eSigning capabilities are an industry first, allowing you to streamline the eContracting process and offer your customers the flexibility and purchasing experience they desire.
Join the eContracting Club
Since 2013, the number of active eContracting dealers has doubled, eContracting volume tripled, and the availability of finance sources to eContract with has quadrupled. We see an average of 4.5 day savings in funding time per contract.
Ready to get started? Connect with your with your RouteOne Representative today.