Santander Consumer USA Holdings Inc. (“SC”), today announced that it will debut an innovative digital auto finance experience that will streamline and enhance dealer interaction with SC and SC’s customers. The SC solution was developed with AutoFi Inc. (“AutoFi”), an established digital retail leader, to further SC’s vision of simplifying the car buying experience.
SC’s digital product suite will enable dealers to simply, and effectively, “self-service” across key vehicle underwriting interaction points with SC, enhancing dealers’ ability to sell vehicles. The dealer digital experience includes tools to identify cars on a dealer’s lot that fit a consumer’s budget, as well as specifications to complete deals – streamlining the financing process. The consumer digital experience brings new “transaction-ready” vehicle shoppers to SC’s dealers by enabling consumers to preview a dealer’s inventory online and identify cars they want, and can afford, before they visit the dealership.
The digital offerings will be available to select dealers over the next several months with a national rollout planned for 2022.
“Dealers are our lifeblood and this ambitious step forward in our digital journey will make Santander Consumer easier to do business with and will allow dealers to complete transactions faster. Giving dealers a state-of-the-art tool to self-service the loan decisioning process – while interacting in real time with consumers across all spectrums of credit – will be a strategic differentiator for SC.”
Santander Consumer USA President and CEO
AutoFi’s CEO, Kevin Singerman, said, “This new technology we helped create for SC will lead to a better car buying experience for online customers. The solution will also give dealers powerful tools to close sales faster than ever before. We believe this new digital solution will create a best-in-class dealer and consumer experience, increasing engagements, conversions and F&I excellence.”
These initial products are the first releases in a multi-year partnership between the two leaders in the auto industry, as Santander Consumer USA continues to invest in making the lending experience as seamless as possible to the dealer community while improving the car buying experience for consumers across the credit spectrum.