Despite having our world turned upside down, the auto financing industry was able to immediately respond to the quickly evolving circumstances brought on by the pandemic. Each key operational area – sales, credit, servicing, loss management and remarketing – adjusted and responded with a keen focus on the consumers’ needs. Now, buoyed with a stronger partnership with dealers, there is an unprecedented opportunity to pave new roads in the customer journey of buying and financing a vehicle. While it can be expected that there will be some thorny bumps and unexpected speed zones to navigate, the road ahead looks pretty good.
- Lessons learned from the shifts in business with the onset of the pandemic
- New customer requirements to be met
- Parts of the journey most ripe for improvement
- Opportunities for the industry to work together as the future is faced