SANTANDER Consumer Finance (SCF) is launching a new online marketplace for dealers looking for a more effective way to market their cars.
The aim is to help dealers sell more cars online with a reduced marketing overhead and offer the customer a reward for each successful purchase. The onboarding programme started at the beginning September and will continue through to the end of the year.
Your Red Car will be available to all SCF supporting dealers. Working in partnership with SCF, the dealers will be able to share their stock feed direct to the Your Red Car site free of charge. Unlike other sites, dealers will only pay a fee when the vehicle is sold, helping to control the sales costs for advertising vehicles.
A recent pan-European survey found that three-quarters of dealers have been already controlling costs – or trying to do so – by decreasing advertising. Therefore, added benefits of the proposition for SCF supporting dealers are inclusion in advertising and marketing, as well as integrating the suite of SCF digital finance tools, free of charge.
Stewart Grant, Commercial Director, Santander Consumer Finance said: “SCF recognises the challenges our dealers have faced, and we are looking to use digital innovation to help our partners. We are bringing together the key ingredients for a successful marketplace introduction, namely a solution that is backed by a high street brand; has access to 14 million customers and addresses a demand for a change in the market.
“Through Your Red Car, dealers will be able to reduce margin costs and maximise sales – showcasing our commitment to the automotive financial services sector and our dealer partners.”
