Edmunds is teaming with CUneXus to build new shopping and purchasing solutions. The latter offers a “click-to-accept” consumer loan platform that allows finance sources to deliver loan offers to in-market consumers through their mobile devices.
The online startup looking to reinvent how cars are bought and sold has agreed to purchase the pioneer of selling vehicles online. According to officials, the two brands will co-exist and continue to operate online separately.
Studies show that change is coming to the finance department, and dealerships like Northwest Honda and Southern Chrysler-Jeep are making sure their F&I offices are ahead of the digital curve.
Vroom is one of a handful of firms attempting to prove that cars and F&I products can be sold online, with one major difference: The company was founded by former AutoNation executives.
The dealer group will now allow customers to select and reserve vehicles online, accelerating the car-buying experience. The new service is initially launching in select stores, but will be available at every location by late summer.
For the first time, the public dealer group’s F&I profit per deal average surpassed the $1,500 mark. Officials said the company will continue to emphasize F&I product sales as it preps for the launch of an AutoNation-branded maintenance contract later this year.
Though the fate of Tesla’s attempts to break away from the dealer franchise model remains to be seen, there’s one piece of its business model dealers are gradually getting on board with.
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