As plush as showrooms can be sometimes, consumers often do not want to spend hours finalizing vehicle delivery, so Chase and AutoFi are collaborating to help dealers.
On Thursday, Chase announced a partnership with AutoFi, a financial technology company that helps customers select and finance vehicles through their dealers’ website and reduce the time it takes to complete the sale. Chase is the first national bank on the AutoFi platform.
“AutoFi helps dealers provide a fast and easy digital car-buying experience that consumers want,” said Mark O’Donovan, chief executive officer of Chase Auto Finance. “Our customers are our top priority — both dealers and car buyers. We want to provide them with the best financial experience whether they are in a dealership or online.”
Nearly half of consumers want to purchase and finance vehicles online, according to Chase’s research.
The AutoFi digital retailing platform can connect dealers with buyers and finance companies. Chase pledged to deliver financing terms online through the AutoFi platform, often within seconds.
“We are thrilled to partner with Chase. We share a common vision of using technology to deliver a delightful consumer purchase experience,” said Kevin Singerman, chief executive officer of San Francisco-based AutoFi.
“Our partnership brings tremendous value to the dealer community leveraging the breadth of Chase’s full spectrum lending and automated capabilities to deliver a comprehensive digital retailing solution to dealers across the nation,” Singerman continued.