Pre Owned Car Dealer

LBIT offers Pre-Owned Car Dealers a Multi-lender platform that enables them to manage all their retail loan partners through a single window in order to check the loan eligibility of the customer and pass on leads digitally to their partner lenders simultaneously enabling the partner lender to access leads in their queue. The dealers can share customer related information at a faster pace through digital media and thus receive a faster decision on the loan application submitted. Multi-lender platform increases the chances of loan approval and thus improve the overall sales.

Features

Digital Retail Loan connect with Partner Lenders

The dealers can share the leads with the partner lender and avail decision on the loan application before sharing the physical documents of the customer. This not just saves the hassle of physical document handover but also allow a quicker decision on the loan application submitted.

Instant Loan Decisions based on Rule or Application Programming Interface

The dealers be able to filter leads at very early stages by making use of lender-wise rule engine or application programming interface that allows them to avail instant loan decisions. This will help them to reduce the overall turnaround time to take decision on the lead.

Inbuilt Experian customer credit history report

A customer-wise inbuilt credit report will be generated before submitting their loan applications to the lender.Enable them to take a call on selecting most favorable lender for the customer and thus avoid loan application rejection from the lender’s end.

Lead to Disbursal tracking

Lead disbursal tracking is done to track the loan application status from the lead to the disbursal like a pro in order to cut down the turnaround time for successful conversion of the lead lender wise, branch wise as well as executive wise.

Automated Payout billing across Lenders

A comprehensive payout master will enable the dealer to generate payout invoice against all the lenders on a monthly basis with just a simple click in the prescribed format by the lender.

Payout recon for Loans and Insurance

Settle the payouts that are receivable from the lenders and the insurers against the receipts and generate an invoice-wise summary in oder to analyze the balance receivables

Payout bills discounting

Dealership will receive the payouts after the completion of the transaction without having the lender to release it.

Sales& Purchase Dealership Management System (DMS) enables the dealers to keep a complete track record of the customer enquiry (Buyer & seller) from the very beginning stage of the enquiry up to the delivery of the vehicle to the customer. It will enable the dealer in managing all the enquiries specific to the customers, evaluate the vehicle, follow-up, manage stock, arrange finance, handle accounts, calculate loan eligibility and also plan test drive schedules. A good customer management will enable the dealer to achieve higher sales.

Features

Web & Mobile enabled Sales DMS

The pre-owned car dealers can manage end to end sales data management system that covers the complete life-cycle of the customers with the very enquiry made by the customer regarding the vehicle up to the sales of the vehicle. It also includes web and mobile versions of customer profile and the dashboard where the dealer can view the customer feedback along with various approval hierarchies.

Deal profitability & performance module

The dealership will be able to set the rules in order to ensure profitability. The sales executive will be able to also ensure profitability of sales by a color indicator at the time of generating the price quote along with the approval of the manager. The dealers will also be able to keep a track of the prevailing discount offers. Through the Sales DMS platform overall performance of the executive can also be ascertained.

Manage stock, ageing, claims across OEMs / locations

Pre-Owned Car Dealers will be able to manage stock across multiple locations with features like ageing analysis, order forecasting, stock availability dashboard, allocation request and approval trail, Digital PDI for Stock movement, etc.

OEM based tech specs and comparison

A comprehensive vehicle specification master across the OEM that will come with head to head comparison feature which will enable the customer as well as the dealer to come to a good understanding about the features of the pre-owned vehicle they intend to purchase.

Individual logins for sales / Finance teams

The dealers will be given separate logins and features for the sales teams as well as finance teams that would help them in bridging the two functions in a seamless manner using a single platform.

Vehicle evaluation module with proprietary price prediction

Both the customers and the dealers can get the vehicle evaluated at point of time in order to ascertain the condition of the vehicle, the depreciation cost as well as the true cost of the vehicle for the ease of sales and purchase.

Single sign-up to access multi location / branches / Teams

Dealers can get access to multiple branches across multiple locations for various functions such as Sales, Finance, accounts, Inventory etc. with a single sign up.

Single sign-up to access multiple OEMs

Dealers will be able to manage and monitor operations and performance across multiple OEMs at the same time and bring in uniformity.

Test drive inventory & scheduling module

This is one of its kind module that is aimed at increasing the test drive productivity by offering features like test drive inventory management, centralized location, digital Gatepass, geo-tagging, test drive route maps. This will enable the dealers track the customers in a smarter way and ensure successful sales.

Engage brokers on your mobile app & launch auctions

The dealers will also be able to run campaigns inviting the brokers for purchase of certain pre-owned vehicles for enhancing sales.

Customer relationship management (CRM) is the unique synchronization of various strategies and technologies that will be used by the dealers to manage and scrutinize customer interactions and data throughout the customer lifecycle. A good CRM will drastically improve the customer service relationship and thus establish a long term association with the customer leading to better sales and profitability of the organization. CRM involves the following

Features

Web and Mobile customer apps

Engages the customer through both web and mobile platform beginning from the stage of enquiry up the delivery of the vehicle to the customer. It include post-sales feedback, insurance renewal, service follow-up, campaigns on the pre-owned cars available with the dealers and offers pertaining to them that would lead in turn lead to sales.

Launch digital campaigns for Loans, Sales, Service, Purchase & Insurance

This will include a campaign dashboard that would enable the dealers to launch digital campaigns across various functions along with various modes of communications such as Telecalling, SMS, Emails, and Digital Marketing etc. This will ensure that the offers are very well marketed and adequate sales targets are achieved.

Touch free collection of insurance premiums through in-built payment gateway

This will include the integrated payment gateway that will allow the dealer to collect insurance premium via digital means such as UPI, wallets, Net Banking, EMI, Debit or Credit card facilities.

Upsell other loans & Insurance by leveraging customer data

A calling CRM is in-built and available that can be used in order to ascertain the loan eligibility and calculate the insurance premium and thus generate revenue by leveraging the customer database.