MotoNovo Finance’s unique MotorV8 measurement and reward programme, which evidences dealerships’ FCA compliance, is now benefiting over 3,000 dealers.

The programme, part of MotoNovo’s MotoClick electronic signature process, asks customers to complete a 10 question digital survey assessing their finance buying experience before concluding their agreement.

MotoNovo claims that this timing ensures that – in-line with the FCA’s requirements – customers understand their options before finalising their finance and are fully aware of the features and obligations of their chosen finance option before entering into it.

MotoNovo Motor’s chief executive, Karl Werner, said: “Over 50% of all MotoNovo Finance’s finance customers are now completing the questionnaire, reporting an impressive average CSI Score of 94.61/100.

“For the first time, dealers have a series of metrics that provide detailed insight into the customer experience.

“When aligned with our dealer training programme, MotorV8 is helping dealer personnel to promote finance knowing that the customer will assess their buying experience.

Werner said that the evidence provided by MotorV8 is proving “vital to the dealer” and it is also helping to engender increasing confidence in sales people.

Werner added: “MotorV8 is proving to be a great way of turning a problem into an opportunity.

“Dealers who have been looking to find ways of demonstrating they support TCF, now have a very compelling support tool with data that reveals just how well they are performing.”