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Good question Mike.There are actually many issues with the current DR offerings but let's focus on the payment piece. First some context. I speak from an online dealer & lender's perspective and a pioneer on the subject (see my LinkedIn profile). Second, this primarily equates to new vehicles.OK. The key issue with showing generic payments is "Webrooming" (look it up).Dealers are shooting themselves in the foot with incorrect monthly payment quoting. The two main culprits are (among others): 1) OEM MAP restrictions = higher payments 2) Allowing customers to self-credit = wrong rates The only way to show accurate payments is to know who the customer is. This allows you to use the real price of the vehicle and the customer's real credit to calculate real "penny-perfect" payments. In response to Mike's question.YES! Dealers are losing potential sales to Webrooming!
Good question Mike.
There are actually many issues with the current DR offerings but let's focus on the payment piece. First some context. I speak from an online dealer & lender's perspective and a pioneer on the subject (see my LinkedIn profile).
Second, this primarily equates to new vehicles.
OK. The key issue with showing generic payments is "Webrooming" (look it up).
Dealers are shooting themselves in the foot with incorrect monthly payment quoting. The two main culprits are (among others):
1) OEM MAP restrictions = higher payments
2) Allowing customers to self-credit = wrong rates
The only way to show accurate payments is to know who the customer is. This allows you to use the real price of the vehicle and the customer's real credit to calculate real "penny-perfect" payments. In response to Mike's question.
YES! Dealers are losing potential sales to Webrooming!
