Four Building Blocks to a Flexible Purchase Process
Posted on Monday, February 15, 2021
Business today happens where consumers are shopping, and more and more, they're shopping online, even for their next vehicle. Dealerships who adjust to the available digital tools and solutions have a better chance of creating a flexible purchase process to meet all consumer needs.
To be flexible is essentially to be amenable and able to adjust to changes in the marketplace quickly. Your dealership can take steps to roll with the changes and be adaptable to consumer preferences.
No two customers are alike, but they all want to buy their next vehicle in the easiest way possible. Here are four things your dealership should consider if you're going to create a purchase process that's flexible at all stages - from the credit application to the final eSigning ceremony.
Offer a Flexible Online Credit Application
Whether they are coming into your dealership to purchase their next vehicle or want to start the process remotely, 92% of auto purchasers research online first. Reach consumers where they are – on the web – by capturing lead information and offering the option to apply for credit on your dealership website.*
Thanks to our Digital Retail Services, you can provide a flexible method for consumers to submit an online credit application, either from their home or in your dealership from a tablet. The credit application can then be included in the eContract package as part of one eSigning ceremony.
You can also automate essential compliance tasks like ID verification, Credit Score Disclosure Notice (CSDN), OFAC, and more. Time spent in your F&I office could potentially be cut in half if much of the paperwork involved in the deal can be completed and processed digitally.
- eContracting – the Foundation for a Flexible Purchase Process
RouteOne’s eContracting is the hub in our suite of remote and digital functionalities that help you process deal paperwork safely and conveniently. Data from the credit application, DMS, and menu populate the eContract, reducing the potential for errors and duplicate data entry.
Funding packages are delivered electronically to finance sources, eliminating the risk of potential delays in overnight shipments. RouteOne's eContracting speeds up the F&I process by helping dealers share critical contract data with finance sources in minutes, not days, and receive funding from the finance source within 24 hours.
Our eContracting solution validates the deal structure before capturing customer signatures, reducing held contracts, and ensures there are no missed signatures.
- eSign Anything® Provides Flexibility
With RouteOne's eContracting enhancement eSign Anything®, you can package all eSignable deal documents into a single signing session. Include the credit application and aftermarket product forms to your eContracting workflow, with or without a menu. Plus, upload other eSignable documents to your RouteOne platform, like odometer readings, proof of insurance, or your dealership's proprietary forms. You can even save time and create signature field templates to use repeatedly. You can then offer your customer the option to eSign all eSignable deal documents, either in-store on a tablet or remotely.
- Flexibility in Signature Capture
Whether they're handling paperwork in your dealership or managing much of the task online, consumers ask for a more low-contact purchase process. Offering in-store eSigning is simple with the RouteOne Mobile eContracting Application. Once you download the complimentary application, you can capture customer signatures with your tablet device. You may also facilitate an eSigning experience from a web browser on your tablet device or your computer.
Remote eSigning allows your customers to securely review and electronically sign a complete eContracting package, including all RouteOne and MaximTrak generated documents and any eSignable deal documents, from wherever they are. Many consumers like the option of viewing and signing before they enter your dealership for delivery as part of a low-contact sales process.
Start Building Your Flexible Process Today
Discover how you can raise customer expectations and get paid faster with our digital signing solutions directly integrated with your finance sources. Your RouteOne Business Development Manager is available to answer any questions and help you get started with eContracting and eSigning in RouteOne.