Priority One Financial Services recently announced the expansion of its new financing technology.
In 2021, the company installed a limited distribution of financing kiosks in dealer showrooms, giving customers the ability to apply for a recreational loan in under five minutes and without ever leaving the dealer’s lot.
“The initial data is promising,” said Nicole Armstrong, vice president of corporate initiatives, Priority One. “Dealers promoting applications on the credit kiosk may see a notable increase in deliveries.”
The company said that with supply chain challenges across the industry, this technology allows dealers to capture the finance business early in the buying process, even without a unit on the lot to sell. The portable fixtures are also easy to move around the showroom or take to trade shows – another place for dealers to establish customer loyalty early in the buying process.
“The showroom experience has changed across the industry in recent years,” said Armstrong. “Customers no longer want to sit in an office to discuss F&I. Priority One’s credit kiosk allows the customer to apply for a loan in a quick, secure, digital environment, and then receive personalized communication with an F&I manager on their own time.”
The kiosks are part of a multi-faceted innovation initiative for Priority One. In 2022, the company will round-out its goal to fully digitize the financing process from beginning to end.
Priority One plans to expand financing kiosks to dealers in top markets across the nation in 2022. For more information, or to request a kiosk demonstration, visit p1fs.com/5minutefinancing.