Dealer Spike, a provider of digital solutions for the powersports, marine, trailer and outdoor power equipment industries, and Sheffield Financial, a division of Truist Bank “Sheffield Financial,” announced a strategic partnership to “elevate the digital retail experience for dealerships and consumers.”
The integration of Sheffield’s competitive interest rates, prequalification process and online credit application into Dealer Spike’s digital retailing solution, Payment Genie, will allow consumers to determine estimated monthly payments, and even apply for financing on a specific vehicle or equipment, at up to 5,000 eligible dealer websites across the United States.
In today’s digital age, consumers expect elevated personalized experiences and to perform most of the buying process online. Given the ever-growing demand, Dealer Spike and Sheffield Financial are joining forces to offer a digital retail solution, Payment Genie, which incorporates the following:
- Competitive interest rates: Sheffield is an industry leader in providing flexible retail financing solutions with competitive interest rates which will be integrated in Payment Genie for users to calculate estimated monthly payments.
- Sheffield Prequalification Process integration: Applicants will be able to take the next step to determine which rates they qualify for with the seamless integration of Sheffield’s Prequalification Process into the Payment Genie digital retail experience.
- Sheffield application integration: Applicants who are ready to purchase will be able to apply for financing with Sheffield Financial using the Payment Genie experience on the dealer website enabling them to save time at the dealership.
Value to dealers:
- Data clearly shows that customers more likely to return to a dealership that offers a digital retailing solution, leading to more sales opportunities for those dealers. An integrated website allows applicants to estimate monthly payments and quickly access Sheffield Financial’s Prequalification Process with no impact to an applicant’s credit. Dealers can save time and resources with the ability to identify qualified buyers and accelerate the purchase process from online to in-store.
- Dealers will have immediate access to qualified leads which will allow them to provide their customers with a superior, frictionless, retail buying experience.
- The integration between Payment Genie and dealers’ lead management systems will streamline the sales process, reduce paperwork and administrative tasks for both customers and dealership staff. This optimization improves staff efficiency, allowing more focus on personalized customer service.
Commenting on the partnership, Jeff McKay, president of Sheffield Financial, said, “Our collaboration with Dealer Spike enables dealers to effortlessly incorporate Sheffield Financial’s innovative prequalification technology into their own Dealer Spike website. This fully integrated financing solution empowers digital shoppers to see if they prequalify without any impact to their credit. Dealers will enjoy an integrated and efficient workflow, as Prequalified digital shoppers will be available in their Dealer Spike retailing portal.”
Tim MacDonald, CEO of LeadVenture, parent company of Dealer Spike, said, “This new partnership will help our dealers accelerate their business and make the buying process even more frictionless for their consumers.”
The companies offered an article to learn more about why dealers need to adapt now to thrive in the future.
