Trader Interactive Launches Multi-Lender Finance Platform for RV, Powersports Dealers
Trader Interactive’s new Dealer Financing product, now live on RV Trader and Cycle Trader, introduces an industry-first indirect lending platform that seamlessly delivers full credit applications into a dealer’s existing lender systems, allowing buyers to apply for financing directly from new and pre-owned vehicle listings within the marketplaces.
The new lending platform connects consumers, dealers and lenders within a single, fully digital experience greatly simplifying the financing process and accelerating speed to financed sale, the company said.
With Dealer Financing activated, buyers can easily apply for credit while shopping for an RV or motorcycle directly from a dealer’s inventory and receive a lender response. Once submitted, the application is instantly sent to both the dealer and the lender, supporting the dealer’s existing lending relationships. This integration provides dealers with instant access to credit applications submitted by consumers as well as streamlines loan approvals, communication between buyer and seller and brings high-value, finance-ready vehicle buyers directly into participating dealerships’ systems and showrooms.
Dealers not only receive the highest quality finance leads from buyers, but also experience reduced overhead costs, an expanded customer base and increased profitability from F&I products as the payments discussion ensues. The Dealer Financing product integrates seamlessly with existing lender portals and dealer systems, requiring no additional setup. Credit application details are also sent directly into dealer CRMs and TraderTraxx, creating an efficient and transparent process for all parties. Performance metrics have proven a 17% rise in listing engagement, and an overall 18% increase in monthly dealership credit applications, the company said.
Consumers benefit from diverse lending options and a streamlined, convenient process with faster approvals while greatly reducing purchase stress. This allows them to acquire financing before visiting a dealership, saving time and dramatically improving the overall buying experience.
“We remain steadfastly focused on delivering the strongest value for both buyers and dealers within our online vehicle marketplaces while supporting dealer business models and bolstering their existing revenue streams,” said Troy Snyder, vice president of product at Trader Interactive. “Our new digital lender platform, Dealer Financing, enhances the buyer experience by connecting directly to a dealer’s active indirect lender relationships. We are amplifying the dealers’ most vital revenue stream and constructed this to be as easy as possible for a buyer to apply and be approved within their online experience. This in turn maximizes transaction conversions and dealer profitability.”
According to recent survey data, the launch reflects strong demand for online financing options. With 67% of RV purchases being financed, and nearly 60% of motorcycle purchases including financing. Additionally, 66% of marketplace consumers report seeking financing during their purchase journey. Seven in ten applicants on Trader Interactive marketplaces complete full loan applications, and financed purchases typically include two additional F&I products, supporting dealer profitability.
Trader’s Dealer Financing integrates with a broad network of industry leading lenders and platform partners. Cycle Trader provides a connection to Octane, FreedomRoad Finance and Performance Finance. RV Trader provides access to Source One Financial Services and Priority One Financial Services. The system supports credit application delivery through 700Credit, AppOne, Dealertrack, and Route One, and is bridged with Lightspeed, DX1 and additional industry leading DMS and CRM systems.
Dealers can learn more or activate the new Dealer Financing product by contacting their Trader Interactive sales representative or by emailing marketing@traderinteractive.com.
