Dealers will benefit from CarMoney and iVendi’s new partnership designed to help retailers close more deals, faster, by giving customers clearer finance answers earlier in the buying journey.
The integration of CarMoney’s finance proposition into iVendi’s platform will speed up eligibility decisions and present customers with a wider range of APR options.
Alastair Grier, CEO of CarMoney, said: “Working with iVendi more closely will unlock more opportunity for dealers at a time when demand is present, but budgets remain tight.
“This integration is all about helping dealers say ‘yes’ to more customers. By working with iVendi and Motiv, and their eligibility tools, we can approve more people, faster, and give them access to our wide panel of lenders.
“That means more customers who need to buy a car can actually access credit, and more dealers can turn interest into completed sales.”
The integration has been delivered in partnership with Motiv Finance and will initially strengthen connections for the dealers CarMoney already works with through the iVendi ecosystem.
CarMoney has a substantial backlog of dealers who have either expressed interest in working with the business or are already in advanced discussions, all of whom can now be onboarded more efficiently.
Reducing friction in the finance process and providing earlier clarity on approval likelihood and APR allows retailers to focus on progressing deals rather than managing delays or dropped enquiries.
CarMoney is utilising its proprietary ‘Blackbox’ data engine, built by Motiv and designed by CarMoney, to help pre-approve more customers for finance.
James Tew, CEO of iVendi, said: “Dealers want speed, clarity and confidence in the finance process.
“Integrating CarMoney into the iVendi platform gives thousands of dealers access to faster and clearer APR options, helping them convert more customers while improving the buying experience.”
