Oems Play a Key Role in Providing Consumers a Better Online to Showroom Car Buying Experience.

Changes in consumer behavior lately have had a dramatic impact on retailing. Consumers demand immediacy – and precision. Today, consumers want to educate themselves as much as possible before going into a dealership for that dreaded and painstaking experience of buying a car. Increasingly, more and more online providers offer a complete virtual buying experience with the vehicle being delivered at the consumer’s residence.

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Why is that important? When a consumer has “designed” a car with the preferred specifications online, an expectation is now set given specifications and the associated price. When that consumer gets to the dealership and the monthly payment they were quoted online is different than in the store, consumers get turned off and tend to walk away.

Changes in consumer behavior lately have had a dramatic impact on retailing. Consumers demand immediacy – and precision. Today, consumers want to educate themselves as much as possible before going into a dealership for that dreaded and painstaking experience of buying a car. Increasingly, more and more online providers offer a complete virtual buying experience with the vehicle being delivered at the consumer’s residence.

In fact, nearly 50% of consumers will walk away from the deal if the promoted monthly payment quote is different than in the dealership.

One key element in quoting consumers monthly payments are the taxes and fees associated with a particular VIN. Instead of quoting the consumers generic prices, why not provide them fully baked, all-inclusive, legally compliant and transactable VIN specific prices, which reflect all necessary factors, including the taxes and fees, a dealer must collect based on the particular local rules?

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Our Automotive Payments as a Service™ mScanAPI® platform does exactly that! It considers all factors which must be taken into account on a VIN-by-Vin basis – including the terms under which the dealer wishes to do business. By doing so, the integrated payment calculations provide the consumer an accurate and consistent buying experience transition from online to the dealership – and to the penny!

Tax and dealer fee information is the most complex to calculate VIN specific and exact, transactable payments. Taxes and fees fall within the “Municipality” class of data that must be considered and applied correctly. Taxes and fees are different for every state – every county, every city and can ever vary from one ZIP code to the next. The complexity is nothing short of enormous! If that sounds exhausting, don’t worry, our revolutionary digital retailing technology has got you covered!

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Without the exact tax and fee information relative to the deal structure on each VIN, you are running the risk of losing your customer by providing an “almost” exact payment – and the consumer turning off completely! An “almost” payment presented that doesn’t include all pertinent and required data, taxes and fees, will inevitably lead to a different payment being presented in the store. And that’s bad – both for the brand, for your business and that of your dealers’ business – as well as for the consumer. The worst part of that business practice: it can be avoided – by using mScanAPI®!

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