SC wants to help dealerships provide a better experience for customers

A win for car dealers.

That means providing three things shoppers crave from dealerships and lenders: convenience, efficiency and transparency in researching, financing and purchasing a vehicle.

And these are what Santander Consumer USA (SC) seeks to provide through its new relationship with AutoFi mobile platform, which will allow the national auto lender to “streamline and simplify the vehicle-buying process for consumers, while giving dealers a robust digital sales channel.”

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“Working with AutoFi is a win for consumers and a win for dealers,” said Rich Morrin, SC’s president of Chrysler Capital and Auto Relationships. “Our customers get a faster, easier and more personal car-buying experience, and the technology facilitates a more streamlined process for our dealers.”

The AutoFi platform connects dealers, shoppers and finance companies to allow the lease or purchase of a new or used car through a dealership’s website whether shopping online, in the dealership or both. The company is different than some existing digital platforms, SC said, because it doesn’t just prequalify shoppers for a loan on a specific vehicle and it enables them to pick a lending offer themselves.

The aim, according to AutoFi, is to enable shoppers to “purchase vehicles online in minutes, not hours.” It will be available in the second quarter of the year.

AutoFi’s network of finance companies provides consumers with a range of real-time financing options, the ability to customize their financing terms and to evaluate optional products for their vehicles.

“Santander Consumer USA has a clear focus on using technology to enhance the customer experience,” said Keven Singerman of San Francisco-based AutoFi. “Together we look forward to delivering a convenient and transparent vehicle purchase journey.”

Santander Consumer USA is a full-service consumer finance company focused on vehicle finance, third-party servicing and delivering superior service to more than 2.6 million customers.

“Customers demand the same digital and e-commerce-like experience when buying a car as they do in other areas of their lives,” said Manuel Silva Martinez of Santander InnoVentures, a financial technology venture capital fund of Banco Santander, SC’s parent company. “AutoFi is enabling car manufacturers, dealers and car-selling platforms to adapt to the changing customer needs.”

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