Get under the bonnet of the Oodle Journal; read about the dream journeys we’ve made possible and the technologies shaping our industry.
Oodle x Carsnip
In 2016 alone, more than 8.2 million used cars changed hands in the UK, marking a 7.3% uplift on the previous year. But there is still a factor that can bring the whole process to a halt: financing the vehicle.
This is why we’ve teamed up with the UK’s biggest car search engine, Carsnip, to redefine the role of finance in the used-car market. At Oodle Finance, we are obsessed with matchmaking with the best innovators on the market in order to create a more seamless, effective and transparent service for the customer.
By integrating our fast and data-informed finance platform with Carsnip’s optimised search functions, we are radically streamlining what is an information-intensive process of matching car buyers with car dealers.
Our chief executive, Jonny Clayton, says, “Both Oodle and Carsnip believe technology can bring car buyers and car dealers closer together for a more seamless and effective experience. Our research has shown that buyers and sellers share the same frustrations. Precious time is being wasted on what is currently a long process. This exciting partnership was the logical next step in our collective desire to optimise this process and make life easier for both car dealers and borrowers.”
Alastair Campbell, CEO of Carsnip, said: “For too long car dealers have had their finance commission taken by online finance companies. This new partnership promises to deliver a much simpler way to finance a car by linking search with finance, while protecting dealers finance commission.”
Oodle’s car dealers can now add a “finance now” button onto their search results on Carsnip, directing potential buyers to Oodle. Oodle then pass this onto the dealer and pay the dealer commission.
Our revolutionary new partnership means the financial arrangement with the dealer will be agreed before the buyer sets foot on the forecourt, meaning time spent on both sides is considerably reduced.
During the current six-month trial period we have promised to pay for each dealer’s clicks on Carsnip, ensuring their listings will appear at the top of the results page. In addition to sending regular reports on performance, we’ll also pay full commission during the trial. We believe this will increase leads, sales and profitability.
And we’re delighted to announce that a host of dealers have already signed up to a trial of the service, including…
The strategic joint venture is another sign of our commitment to innovate our industry, using finance to lead the demand for greater transparency, better efficiencies and for being the car finance platform that matches our customers to the right loans.
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