eighth open letter to our dealers

findandfundmycar.com is live

 

Over the last few months I have written to you on several occasions regarding our new platform, findandfundmycar.com. The site is now live, supported by a national advertising campaign, and is already generating leads for over 1,700 dealers who are currently advertising on the platform. In my latest letter, I wanted to take the opportunity to look back on why we started this journey and why I believe so strongly that this is the change the motor industry needs.

 

a broken system

Two years ago, we began to build a revolution to disrupt and re-invent the world of vehicle aggregation. We recognised that the current model was weighted heavily in the favour of the aggregators; not the dealers that made their business models possible. From our experience and extensive research we saw:

  • The rapidly rising costs of advertising on the current market leader’s site
  • The loss of finance revenue for dealers
  • The creation and implementation of sponsored ads
  • The disruption of other revenue streams such as warranties
  • And even more added costs for dealers, like chargeable finance calculators

The system was broken, so we set out to create a platform centered around achieving a triple win where dealers, car buyers and committed motor finance providers all benefit.

We recognised the power rests with you, the dealer – without your stock, the aggregator simply cannot exist. By creating findandfundmycar.com we have empowered you with the tools to drive and affect change. We understand that dealers are central to the whole car buying journey, so we put your needs at the heart of this operation

a changing landscape

There are, of course, other factors having an impact on the industry. Digitisation, regulation, and changes in buyer behaviour are all contributing to a transformation of the motor retailing sector. So, we’ve ensured that findandfundmycar.com can support you in adapting to these changes by offering:

  • Straightforward finance – with over 80% of consumers requiring finance, this platform brings the car and finance together in one friction-free and easy-to-use platform.
  • Trust-building – every dealer is rated by car buyers, creating trust between you and the customer.
  • Customer protection – with the dealer and dealer finance offer combined, customers benefit from more consumer rights than they would from an unsecured loan.
  • Quality control – together we and the dealers control the quality of the products and services customers receive. findandfundmycar.com gives customer quality cars and finance from a single source – the dealer.

Combined, these benefits will allow you to improve your customer value proposition and bring the ‘feel good’ back to car buying.

our credentials

At MotoNovo Finance we pride ourselves on our ability to be bold, ambitious and innovative. We stand apart from our competitors, and much of our success lies in our ability to see opportunities where others see challenges. Over the last decade we have made many outstanding achievements:

  • Grown our market share from under 2% to over 20% – something we couldn’t have accomplished without support of our dealer partners;
  • Proven our ability to transform and disrupt a well-established and served industry dominated by iconic brands;
  • Taken MotoNovo Finance from a new brand to a multi-award winning market leader.

We always work with an absolute market focus, and with dealers in mind. As such, our approach to car sales aggregation is based upon three truths:

  1. A car sales aggregation business is nothing without dealer stock;
  2. All the power rests with dealers – without their stock there is no aggregator;
  3. This power needs to be realised by current aggregators and dealers alike.
support from industry bodies

Through these open letters you have also heard from Jim Reid, the Chairman of the Independent Motor Dealers Association (IMDA), the body that represents the UK’s independent motor dealers. The IMDA has lent a voice of support to our cause, recognising the core values our organisations share:

“I’ve been impressed that the findandfundmycar.com design has been greatly influenced by engaging with dealers”

“more than this, it is the fully transparent & fair pricing policy”

“this is the credible aggregator alternative that independent dealers have been looking for; now it’s up to us to support it”

It’s not too late to join the revolution and work with us to transform online aggregation. The key to the success of this revolution is your stock, and your decision on where to advertise it. Our mission to change the online car advertising landscape can only happen with the support of dealers.

 join the revolution – findandfundmycar.com

Best Wishes

Mark Standish
Group CEO

Click to download the full letter in PDF