Technology takes the guesswork out of car payments

What will my monthly payment be?

It’s the question on nearly every car shopper’s mind and a critical one to answer accurately if you’re going to make the sale.

To an industry that has been stalwart in its hands-on processes for decades, change sometimes comes hard. But like it or not, technology is reinventing the automotive world from end-to-end, and with that change comes both improved internal systems and an enhanced customer buying experience. We’ve all become accustomed to finding what we want, when we want it – online – and that expectation extends across the shopping landscape. Customers’ expectations are high and here to stay. Buyers want a seamless, hassle-free digital experience – one where they can dream about, shop for, compare, and order their new car from the comfort of their home, just as they would a new pair of shoes.

Yet, surprisingly, the digital advertisements that the shopper relies on to point them to their potential purchase often don’t accurately tell them how much the car will actually cost. They’re trying to decide which lender to choose, which dealer to work with, which car to pick. So they need to know: What’s my monthly payment?

Enter OfferLogix. Recognizing the need to eliminate the confusion, inaccuracy, and disconnect that exists between the vehicle, the customer, and the monthly payment, this innovative fintech company is delivering one-of-a-kind solution sets that answer the question: What’s my monthly payment? And it does so with “penny perfect payments” so when a consumer shops, the price they see is the price they’ll pay… to the penny. This is a game-changer for the automotive retailing industry.

The secret sauce is OfferLogix people. Over the last 20 years, this team has founded some of the most successful marketing and training companies in the industry and has collectively worked with 75% of the top 100 dealers and 18 manufacturers in the U.S. and around the world. Together they have pioneered leasing and finance payment advertising for digital retailing, desking and CRM tools, advertising agencies, OEMs, online portals, and dealers.

The result is OfferLogix’s patented fintech solutions and related web services which make it possible to generate and display accurate and fully disclosed lease and loan payments on vehicle lease advertisements, listings, specials, brochure pages, the web, social media, mobile devices, and so on. It accurately generates this data for existing inventory, including dealer margins and pricing, OEM and lender programs, taxes and tags, so the dealer can advertise precise and compliant payments on every vehicle, providing price transparency that results in higher conversions with more gross profit per vehicle. The OfferLogix API powers digital retailing presence with penny perfect payment accuracy.

And for the customer asking What’s my monthly payment?, OfferLogix creates that seamless buying experience they’ve come to expect by integrating directly into existing digital retailing platforms where they already shop.

“We want to be a one-stop shop,” says Aaron Bickart. “Our APILogix differentiates us from other vendors. We sell to B2B and channel customers looking for a streamlined, penny perfect experience that they can’t do themselves, and we partner with other industry leaders to provide a complete solutions package that draws on everybody’s expertise and innovation.”

In fact, OfferLogix recently partnered with Equifax to provide the only turnkey credit qualification service to agencies, digital retailing providers, dealers, OEM manufacturers, and customers. With QualifyLogix, providers can drive more funnel conversions with real-time, soft credit pulls, retrieving actual credit risk scores from Equifax for use in precise payment calculations with no impact to the consumer’s credit score.

Bickart says, “The ability to reflect real-time, precise, customized credit and penny-perfect payments across all customer touchpoints lets providers deliver consistent and credible offers unique to each customer. The days of dealers using third-party providers to pull and calculate scores are long gone. With our direct API, dealers don’t have to sit and wait for scores to pass through multiple funnels and additional call avenues.”

“And the integration doesn’t stop there,” says Bickart. “Using our CreditDrive built-in lead generation solution, dealers get high-value, prequalified leads validated by Equifax, so providers can improve the consumer’s online vehicle shopping experience.”

Technology and the digital revolution have put the customer behind the wheel, so to speak, and empowered them to make their own purchasing decisions with very little, if any, person-to-person input. And with OfferLogix, the customer will never again have to ask What’s my monthly payment? They’ll already know… to the penny.