CUSTOMERS 'PLAY' WITH PCPs TO GET A CAR THEY WANT

摘要

As a provider of motor finance technology, one of the most interesting trends we see is the way in which customers are becoming more and more aware of PCPs and, crucially, getting better at understanding how they work. We have a box seat when it comes to looking at consumer use of these products including, for example, how they are increasingly using online finance calculators, such as our Quoteware, to arrive at a deal that meets their needs. Our number one finding is simple - these tools allow buyers to "play" with finance in a manner that they would never or rarely try in a normal dealership situation, varying factors such as the deposit and repayment period. Being able to run through the PCP figures in their own time on their laptop, tablet or phone is a liberating experience for them. It is also one that gives them more transparency and a greater likelihood of being able to afford the car they really want. We see this kind of activity building week by week and believe we are making a very safe prediction in stating that PCP penetration will increase yet further this year because the product empowers customers.