One of the largest networks of buy-here, pay-here dealerships is leveraging a Cox Automotive division in an effort to showcase inventory more effectively online.
This week, J.D. Byrider announced it has partnered with HomeNet Automotive to bring SnapLot 360 technology to its store operators, delivering a more transparent online customer experience through immersive vehicle imaging.
With approximately 30 corporate stores and 120 franchise stores in the BHPH space, J.D. Byrider said it is working to reimagine what it means to shop for a vehicle in this segment by using new digital technology designed to help consumers make a connection with a vehicle online before they enter a store.
The company explained that using HomeNet’s SnapLot 360 solution will enable J.D. Byrider to deliver on these objectives and help store operators improve online merchandising efforts by boosting vehicle turn and reducing time to market.
Launched earlier this year, HomeNet’s SnapLot 360 is a 360-degree image capture solution that can drive increased visibility to dealers’ online sales platforms through an iOS and Android compatible application. Through the application, dealers can capture both exterior and interior 360-degree images and syndicate them to top website and listing providers in the industry, including Dealer.com and Autotrader.
Additionally, the new solution can enable dealers to tag specific features as hot spots, helping to increase customer engagement and provide a deeper understanding about the vehicle.
“At J.D. Byrider, we’re invested in being the consumer choice in helping people get a fresh opportunity to finance and own a quality vehicle,” J.D. Byrider chief marketing and digital officer Marie Lafkiotes said.
“By integrating with SnapLot 360, our store operators will be able to provide an elevated online experience that will separate them from competitors and enable customers to easily shop our inventory from anywhere on any device,” Lafkiotes continue. “This is a key component of our digital transformation.”
The companies indicated a pilot of the SnapLot 360 integration will take place in approximately 12 J.D. Byrider stores, split between corporate and franchise locations. The integration with HomeNet’s flexible inventory platform is designed to enable inventory photos to be housed online and automatically populate on J.D. Byrider website listings.
Store operators will also have the ability to display pricing specifics — key to driving a more transparent experience for consumers.
HomeNet’s photo backgrounding, a turnkey image enhancement offering, will also be available to enable dealers to change the background of vehicles to save time on staging, ensure consistency and ease integration with third-party sites.
“Bringing SnapLot 360 to J.D. Byrider is a significant milestone that will help drive greater transparency and engagement in the buy-here, pay-here shopping experience,” said John Hensman, vice president and general manager of HomeNet.
“With SnapLot 360, we’re helping dealers increase trust and enabling consumers to make more informed buying decisions,” Hensman went on to say.
For more information about SnapLot 360, visit www.homenetauto.com/products/snaplot-360.asp.
Just before the holiday rush climaxed, the National Independent Automobile Dealers Association enhanced its roster of National Member Benefit Partners with two providers that can help dealerships make vehicles more attractive on their lots or to dispose of inventory that just didn’t turn as planned.
The two companies now collaborating with NIADA as partners include auto inspection and reconditioning software provider AutoMobile Technologies (AMT) as well as Remarketing by Element, a provider of timely, cost-efficient asset disposition.
No doubt, buy-here, pay-here operators have seen franchised dealerships in their market with bold signage highlighting certified pre-owned vehicles. Now BHPH dealers can offer similar vehicles to their customers by using AMT’s digital inspection software available to association members and enabling them to designate select vehicles with certified pre-owned status.
AMT’s technology can deliver mobile vehicle inspection and auto reconditioning management services to independent dealers with a powerful, mobile-enabled, innovative, easy to implement, efficient and customer-centric vehicle inspection reporting resource to NIADA Certified dealers, enhancing inventory listing differentiation and customer trust through the digital or physical lot.
AMT’s InspectionNotes software can enable the association’s members to complete the comprehensive 125-point NIADA Certified vehicle inspection electronically and generate digital and paper condition reports for the certification.
That process can allow dealers to integrate CPO inspections into their existing intake and reconditioning operations, and provide the value and security of CPO designation to their customers while increasing margins and decreasing turn time.
“We are proud to join with NIADA in providing its members the ability to offer NIADA Certified vehicles to their customers,” AMT executive vice president of operations Eric Meahan said.
“We have seen the competitive advantage CPO vehicles have given our franchise clients, benefiting them in both revenue and customer satisfaction. The NIADA Certified program allows independent dealers to level the playing field with a similar solution,” Meahan continued.
“We applaud NIADA for adding this valuable program to its member services offerings,” he went on to say.
The InspectionNotes software can allow technicians to scan a VIN on their mobile phone or tablet to begin the process, which takes them through a series of questions, ensuring each required item is inspected and verified. The resulting report is delivered in PDF format that can be loaded to website listings, emailed or printed to share with buyers.
InspectionNotes is a component of AMT’s ReconMonitor software, which can give dealerships visibility, command and control of the entire reconditioning process from acquisition to front line and every step along the way.
“AMT brings an innovative commitment to the best in market technology, ease of use and corresponding profitability for our dealer members on the front and back end of their stores,” NIADA senior vice president of member services Scott Lilja said.
“For our CPO dealers in particular, the mobile inspection solution is a huge enhancement over the current manual process, enhancing productivity, quality and ability to display both on the physical and digital lot,” Lilja continued.
For more information, visit https://amt.company.
Remarketing by Element Partners with NIADA
Remarketing by Element also has joined the National Independent Automobile Dealers Association’s network of National Member Benefit partners.
Remarketing by Element is connected with more than 150,000 used vehicles sold annually at auctions throughout North America, leveraging technology through its national auction network.
“We’re excited to be working closely with NIADA, a highly respected industry association, to provide asset disposition services to qualifying dealer members,” Element executive vice president of asset remarketing Paul Seger said.
Through the partnership, qualifying NIADA dealers can sign up to be represented by Remarketing by Element at wholesale auctions nationwide.
Once approved, NIADA member dealers will receive prime lane placement in Remarketing by Element’s fleet/lease lane, on-site representation of their vehicles at auction and promotions that attract one of the largest buyer groups in the wholesale auto industry, both in-lane and online.
“This new NIADA Member Benefit Partnership with Element Fleet Management is a huge win for our member dealers,” Lilja said.
“Leveraging Element’s scale of vehicle remarketing volume, deep auction partnerships and on-site auction representation, along with ongoing incentive programs, represents tremendous value to our members in an area of their business that has been a major challenge over the past couple of years,” he went on to say.
For more information, visit remarketingbyelement.com/dealers.
Dealerships are leveraging NextGear Capital for more than just inventory they want running down the auction lanes.
The Cox Automotive company recently highlighted that it has financed more than $1 billion through the first three quarters of the year for non-auction purchases via its funding feature, Rapid Pay.
NextGear Capital insisted the adoption of this feature reflects dealers’ growing use of digital technology to maintain cash flow and enhance business operations.
NextGear Capital introduced Rapid Pay two years ago to streamline the flooring process for vehicles purchased outside the auction, such as customer trade-ins and owned inventory. Since then, the company stressed that it has proven to be the simplest way for clients to secure funds quickly.
“Rapid Pay enhances dealers’ ability to assemble inventory desired by customers without holding costs eating into their profits,” said Sarah Lutey, director of corporate strategy for NextGear Capital. “This online process is just one more way we can help our clients manage and grow their operations.”
In addition to Rapid Pay’s 2018 milestone level of inventory financing, NextGear Capital data revealed more than 70 percent of its clients used the feature at least once, while 58 percent used it to floor half or more of their non-auction purchases.
In fact, the company added that the feature has proved so easy to use that 39 percent of NextGear Capital dealers used it to floor all of their vehicles purchased outside of the auction.
The company reiterated the main capabilities of Rapid Pay, including:
— Faster funding for non-auction purchases: Prioritized Rapid Pay and expedited funding requests can enable dealers to accelerate the non-auction flooring process. Requests are independently initiated through a dealer’s account portal, accessible via computer or mobile device, and don’t require a representative to complete. Once approved, funds are promptly deposited through ACH into a dealer’s account.
— Simple title management: A pre-paid FedEx waybill (provided by NextGear Capital at no cost) to submit title for a non-auction purchases floored through Rapid Pay.
— Additional visibility: A client can immediately view the status of a non-auction vehicle funding request after it is submitted through Rapid Pay.
“The adage ‘time is money’ is more relevant than ever for dealers,” Lutey added.
For more information about Rapid Pay, go to this website.
