Darwin launches pilot of Amazon-like F&I platform
Platforms like Amazon give consumers the pathway to purchase everything from mechanical pencils to a drone in the middle of the afternoon or night with just a few swipes on a smart device.
Now Darwin Automotive is putting F&I software in place to give vehicle buyers the same flexibility.
This week, the company announced the release of Darwin Direct, which is designed so dealerships can now empower customers to purchase, contract, e-sign and pay for F&I products 24/7, 100 percent on their own, absent any human involvement from the dealership.
JM&A Group, a national leader in F&I consulting, is currently piloting Darwin Direct through its dealer customers.
In addition, Darwin Direct will soon be piloted by other major F&I providers.
“Darwin Direct provides our dealers with an F&I growth opportunity that is exactly what the industry needs right now,” said Scott Gunnell, vice president sales operations and strategy with JM&A Group. “It is designed to combat the ongoing issue of margin compression and the lost opportunities from customers leaving the dealership without purchasing F&I products.
“Customers can now access and purchase F&I products from the dealership whenever and wherever they chose; a shopping mall, the service drive, customer’s home, their smartphone, you name it. The profit potential is significant,” Gunnell continued.
“We are excited about the future and this kind of opportunity where our dealers’ customers can enjoy an excellent experience as part of the vehicle-buying process,” he went on to say.
The company highlighted more than 3,000 dealerships have enrolled in Darwin Automotive’s F&I software in just the past two years.
Darwin Automotive chief executive officer Phillip Battista referenced how eager consumers turn to platforms like Amazon to find items they want.
“I believe a significant part of our industry wants to offer customers more self-serve functionality similar to Amazon, so we have launched Darwin Direct,” Battista said.
“For years dealers have stated that lost F&I sales are a huge hole in their business. As F&I is so important to overall profitability, it’s an absolute must to go after these sales in a way that is easy for consumers to do on their own,” he continued.
According to Battista, OEMs currently market extended service contracts to consumers and, if the customer chooses to buy, the OEM gets 100 percent, and the dealership gets nothing.
“Dealers are losing out on a tremendous amount of F&I revenue. Now they can market and sell F&I products directly to consumers 24/7,” Battista said.
“Price and payment are completely integrated with Service Payment Plan, which even offers zero percent financing for 24 months. Our dealers enjoy substantial gains in F&I profit, because we provide a process that resonates with the typical consumer and delivers their options for F&I protection in a way not previously seen,” Battista added.
For more information or to schedule a product demonstration, call (732) 781-9010 or visit www.darwinautomotive.com.