HAUPPAUGE, N.Y. – Sept. 15, 2017 – PRLog — Ecommerce wasn’t always booming like it is now. However, since the early days of internet browsing, GrooveCar has been providing a program for credit unions to reach members looking to research and shop for their next vehicle.
The online resource, designed to engage members during their auto buying journey was first launched in 1999. It remains true to its’ vision today, albeit with a lot of next generation features and lead generation tools. “Major banks are now just starting to provide this service to consumers, and frankly, they are late to the game. An online service such as ours, is only now gaining strength within the banking sector. Credit unions have been offering and thriving with our platform for some time now. Our partners were early adapters, recognizing the benefits from the start. Beyond the credit union partnerships we have had since the beginning, we continue to expand by partnering with an additional 164 new credit unions nationwide since 2016,” explains Robert O’Hara, Vice President of Strategic Alliances, GrooveCar.
Offering members what they want during their online shopping experience is crucial to remaining relevant throughout the process. Nearly 97% of car buyers will spend up to fourteen hours over four months searching online, and the data is even more compelling if one is targeting Millennials. “The program helps the member, the credit union and the dealership come together in one place to do business, during the search process. The key is having the right mix of online services combined with personalized off-line support, to close deals. This full-service approach is having a positive impact on members as they head online to research and buy their vehicles. They know they can also work with a member service representative from GrooveCar to assist them with everything from going through the loan approval process to helping them pick out the color of the vehicle. The program is that comprehensive. “We have designed this service to provide a convenient shopping experience right up to time the vehicle is ready to just drive off the lot,” explains O’Hara.
Credit unions on the program have found a full-service approach makes it easier to connect and complete the sales process. There are multiple alerts built into the online platform that inform credit unions when their member is looking, allowing the credit union to reach out and offer guidance. “Connecting members with what they want through a digital platform is a game changer. Credit unions are ahead of the curve in offering this type of service over banks that are in their infancy in rolling-out sites. We have been providing this level of engagement for almost 20-years and have seen the credit unions perception change from a ‘nice to have’ umn to one that is a ‘must-have’ since it is vital to connecting with their members. We know how the online auto buying market works which is why we have been so successful,” states O’Hara.
GrooveCar provides credit unions with the ability to capture more loans during the research phase of auto buying as consumers prefer to complete credit and financial paperwork online. Having both a shopping tool and financial resource at the member’s fingertips closes the loop on the process, and gets the member on their way. This seamless process has been a cornerstone of the program that provides a competitive advantage for the credit union. The resource helps members with important car-buying tools such as locating what they want in vehicle, set a budget, choose between new and pre-owned inventory, research and compare pricing, get pre-approved for a loan and discover trade-in values.
Founded in 1999, GrooveCar provides automotive loan growth solutions to credit unions nationwide while providing their members, as well as the general-public, with the most informative and user-friendly auto search engine. With its expansive dealership network surpassing five million vehicles, GrooveCar facilitates the entire car buying process, including shopping, researching, buying, leasing, and financing. Through the national auto-leasing program CU Xpress Lease, credit unions can take advantage of leasing opportunities in the new and pre-owned vehicle market. CU Xpress is the leading credit union lease program in the nation. Additional information on GrooveCar or CU Xpress Lease may be found at http://www.groovecarinc.com.
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