MotoNovo Finance’s exclusive discount shopping programme, available to all their finance customers, can give dealers an extra edge when it comes to helping customers to make a favourable buying decision, according to the business’ latest assessment of the savings available.
“Across motor finance, we are all very conscious of the importance of affordability in making a lending decision. While we cannot influence this underwriting decision with our Discount Shopping offer, we and our dealers can help customers to benefit from a financing choice that gives them the potential to make a useful dent into their annual household expenditure. Not identifying this would be an oversight, given the savings on offer,” reflects MotoNovo Deputy CEO Karl Werner.
The average monthly car repayment across the UK is £226.001 per month. By choosing MotoNovo Finance for their finance and opting for the business’ exclusive Discount Shopping programme, customers could benefit from savings of a little under £500 per year, based upon average household expenditure activities. Now, that might be more than a little useful.
The £500 saving is calculated by taking total household spend activities, listed below and simply applying a 3.5% discount across the total expenditure. The 3.5% has been consciously selected to provide a modest estimate based upon the discounts available. The total saving this creates is £499.62; equivalent to more than two months car finance repayments!
Commenting on the saving Werner concludes; “Looking at the data and savings on offer, an annual saving of £500 is realistic and more is available if people are buying white goods or spend more on holidays and leisure. It can be easy to overlook such options, but highlighting the genuine potential savings could be very useful for dealers and their customers. After all, it could more than offset two monthly car finance payments every year!”