Press release

AutoTrader launches finance calculators powered by dealers’ own finance offers

10th May 2017 – London: Auto Trader, the UK’s largest marketplace for new and used cars, has enhanced its trade adverts with the introduction of a finance calculator, helping dealers attract and appeal to a bigger finance audience than ever before.

The service, which is free to existing customers until early 2018, gives dealers the option to show a monthly price and finance calculator in their adverts, powered by their own choice of lenders and interest rates.

The new service has been developed to help dealers better compete with specialist finance providers, banks and price comparison sites by offering consumers greater convenience and transparency. It also gives dealers the opportunity to embed discussions on finance earlier in the car buying process. Potential buyers can choose their ideal deposit, term (in months) and mileage to establish their preferred finance package and then send their finance enquiry directly to the dealer. Quick, simple and transparent.

The new features were developed in partnership with Codeweavers, a leading technology provider specialising in motor finance quotes and calculations. The launch follows extensive testing, during which 850 customers trialled the service, creating 50,000 adverts with finance, resulting in 37 million advert views and two million calculator interactions.

Commenting on the new functionality, Paul Harrison, Head of Motor Finance at Auto Trader said: “At Auto Trader we’re committed to providing our customers with the most powerful tools possible to compete in today’s increasingly competitive and complex marketplace. Finance has become one of our industry’s biggest performance drivers, however all too many dealers are missing out on the opportunity to promote their available offers early in the buying process when consumers are making their key decisions. That’s why we created this new functionality as a priority, which we feel gives our customers a competitive advantage. Importantly, it also creates greater transparency for car buyers, helping them to understand their different product options online to help them make a more informed decision in the showroom.

“This is the first step in creating a complete finance solution. In the summer, we’ll also be introducing the ability for consumers to search by monthly price, which will put finance at the heart of car buying on Auto Trader and help give transparency to millions of car buyers.”

Shaun Harris, Sales Director, Codeweavers, added: “Codeweavers is delighted to have partnered with Auto Trader and we share their vision of helping dealers improve their finance performance and giving consumers transparent information about finance, earlier in their car buying research. Our flexible technology means dealers can specify the lenders and interest rates used to power their finance offers displayed in their Auto Trader adverts. These offers can be customised based on make, model, value and age of the vehicle – giving dealers complete control.”

Adding the finance calculator to adverts is a straightforward process. Dealers confirm their Financial Conduct Authority (FCA) firm reference number, and then select their preferred finance providers and representative APR. This enables their finance offer to be displayed within their Auto Trader adverts that are eligible for finance, ready for consumers to see and interact with. There is no requirement for dealers to be an existing Codeweavers customer to use the service.

About Auto Trader

Auto Trader Group plc is the UK and Ireland’s largest digital automotive marketplace. Auto Trader sits at the heart of the UK’s vehicle buying process and its primary activity is to help vehicle retailers compete effectively on the marketplace in order to sell more vehicles, faster. Auto Trader listed on the London Stock Exchange in March 2015 and is now a member of the FTSE 250 Index.

The marketplace brings together the largest and most engaged consumer audience. Auto Trader has over 90% prompted brand awareness and attracts circa 60 million monthly cross platform visits each month, with circa 70% of visits coming through mobile devices.

The marketplace also has the largest pool of vehicle sellers (listing more than 430,000 cars each day). Over 80% of UK automotive retailers advertise on autotrader.co.uk.

For media enquiries, please contact:

Andrew Nankervis, PR Manager, Andrew.nankervis@autotrader.co.uk

Our latest Retailer Performance Masterclass on distance selling is now live. Take the module now to become an expert on all things distance selling > https://t.co/Wm6Ve34Tf1 https://t.co/TVqYfZdDJy
Register now for next week’s webinar where we’ll be revealing how to keep buyers locked into your adverts for longer along with an update on the wholesale market from @dealerauction1. Register now at https://t.co/fRY30yjrUU https://t.co/H1VUtOHteP
Our latest pricing data, based on the 510,000 vehicles currently available on our marketplace, shows that used car prices continue to record strong levels of growth – up 7.7% YoY – despite the current lockdown measures in place. https://t.co/SVtIcJmKq5
In our latest blog, we’ve pulled together our top tips for making sure you’re digital forecourt is attracting as many buyers as possible. Click below to find out more 👇https://t.co/ssr5eAs64R
Although 2021 hasn’t started the way we would have hoped, we’re still seeing high demand for vans, with January audience so far up 39% versus the same time last year. Find out more in our latest blog 👇 https://t.co/dxDDCqPR7l
Our Data & Insight Director @therickw shares our latest audience insights, including how many visitors, ad views and leads we have seen since the start of 2021. https://t.co/4CJ0pNun49
It's the final day of @AMchatter #AMLVirtual. Be sure to check out the virtual and listen in to their expert speakers 👇 https://t.co/Jr38eTuWKq
Closing off today's webinar, @stuart_trader announces the launch of our next (and very topical) #RPMAccredited module on Distance Selling. Find out more and become accredited now > https://t.co/Wm6Ve34Tf1 https://t.co/UUpT9NlIaR
Nona Bowkis from @Lawgistics_UK is now on to answer your questions. She kicks off by confirming that everything paid by the consumer, including a warranty, has to be refunded in the event of a return within the 14 day cooling off period. https://t.co/mEtXKnB1Cw
Last week we asked retailers if they were operating click & collect or home delivery with 94% indicating they have and this week we can see that 79% have seen success. https://t.co/HqLuUGEYCi

Auto Trader Group plc
Registered in England (Company number: 09439967)

Auto Trader Limited
Registered in England and Wales (Company number: 03909628)

Registered address:

1 Tony Wilson Place
Manchester
M15 4FN
VAT number: GB 614 8918 20

Keep in touch

We use social media to speak to the UK’s largest car buying audience