Is the Digital Finance Journey Actually Working for Customers?

Digital retail has transformed the way customers research, compare and buy vehicles. But while dealerships have invested heavily in digital tools, an important question remains: are those tools creating a better finance journey, or simply adding more steps?

For dealers and brokers, this distinction matters. Technology should make the customer journey simpler, clearer and more connected and not create another layer of complexity.

Customers Want Digital Convenience

Today's customers are increasingly comfortable researching and completing parts of the buying journey online. They can explore vehicles, compare prices, calculate payments and research finance options before they ever speak to a member of the dealership team.

But that doesn't necessarily mean they want the entire purchase to happen digitally.

Cox Automotive's latest Car Buyer Journey Study found that 63% of buyers see an experience combining online and in-person interactions as ideal, while just 7% reported completing their purchase entirely online.

Customers aren't necessarily choosing between digital and face-to-face retail. They want the flexibility to use both.

Where Digital Meets the Dealership

This creates an opportunity for dealerships to rethink how their digital and physical processes connect. A customer might begin researching a vehicle online, explore their finance options and work out what they can afford before visiting a showroom. When they arrive, they expect that progress to be recognised rather than starting the process again.

Cox Automotive's research highlights a gap here, particularly around finance. While 48% of buyers said they would like to apply for credit online, only 33% did so. The difference suggests there is still considerable room to make key parts of the finance journey easier to complete digitally.

For dealers, the opportunity isn't simply to move more steps online, it's to connect those steps effectively.

Connecting Technology

For sales teams, connected technology can bring relevant information into the conversation, reduce administration and help create a more consistent experience. It can also give customers greater clarity about their options without removing the value of personal interaction.

This is where digital tools such as DealTrak can complement the expertise of dealership teams, rather than remove it. At DealTrak, we believe technology should support better finance journeys for both customers and salespeople, connecting the different stages of the process while helping dealers to have more informed and transparent conversations.

Making Digital Work Harder

For dealers and brokers, the focus should be on the entire finance journey – from the customer's first online interaction through to the showroom conversation and final agreement.

The goal isn't to make the process more digital for the sake of it. It's to make it more connected, more efficient and easier to navigate.

It isn't whether dealerships need more digital tools. It's whether the tools they use are genuinely making the finance journey better.