WOODCLIFF LAKE, N.J. -

With dealers turning to their mobile devices for VIN information, values, vehicle history reports and online auctions, why not use these gadgets for financing, as well? At least that is likely the thinking behind BMW Financial Services new partnership with AutoNation.

The two have teamed up to pilot a new program that allows dealers to lineup financing for their customers straight from an iPad, giving dealers an easier and more effective way to get approval on the spot. By using the program, a dealer can continue to show the car to the customer and get financing in order without having to move to the F&I office. This is designed to save time and create a higher level of comfort for the shopper, which may also increase the likelihood of a sale. 

The BMW Financial and AutoNation pilot will be conducted at the retailer’s BMW and Mini of Dallas stores.

Explaining it in more detail, officials said that through the expanded mobility program, dealers will be able to use the iPad to quickly search for credit inquiries and obtain loan approvals, conduct dealer self-inspection procedures and browse dealer bulletins on the company’s Infobahn system.

“We’re working to blend the mobility experience with elements that go beyond the basic financing process,” explained Shaun Bugbee, vice president of sales and marketing for BMW Group Financial Services.

“By enabling the finance aspect of the transaction to be truly mobile, we not only save time for the customer, but we create an interaction that can push the process forward without taking potential new owners away from the physical car — and that in itself provides a more comfortable process,” Bugbee added.

The lender aims to expand beyond the iPad by bringing the tool to all tablets, as well as the entire BMW and Mini network in the next few months. Once the pilot is completed, AutoNation says its other BMW stores will adopt the program, as well.

“BMW and Mini of Dallas are in the perfect geographic location to test the waters,” said AutoNation senior vice president of sales Kevin Westfall.

“Dallas is a large upscale market where buyers come to regard the latest technology as a given,” he continued. “We’re adding the personal approach to the process and by bringing this type of technology to our customers, we can better interact and literally conduct our business anywhere.”