New Auto Trader feature to boost conversions through finance offer clarity

Auto Trader has unveiled a new functionality designed to drive lead conversions by enabling retailers to display clear, FCA-compliant finance offers on new car listings, directly within its platform.

The new ‘New Car Offers’ functionality allows dealers to present monthly payment details on new car adverts, targeted at high-intent buyers. With nine in ten consumers using finance to purchase new vehicles, the update is intended to streamline the buying process and reduce the time it takes to close sales.

The feature supports Auto Trader’s push to deliver a more transparent digital retail journey, with 84% of consumers stating that comparing cars and finance options easily is critical to the purchasing decision.

The technical integration makes it easy for retailers to attach finance examples to their listings, ensuring transparent, compliant pricing at a time when demand for new cars is rising. Auto Trader reported an 11% year-on-year increase in new car platform visits, supported by a 6% uptick in new car sales year to date.

Bex Kennett, new car performance director at Auto Trader, said: “We’re delighted to announce New Car Offers, which will be a powerful and seamless addition to our new car package. It’s become more important than ever that consumers are given both transparency and confidence when purchasing a brand new vehicle and this aims to do exactly that.

“By displaying monthly costs upfront, retailers will be able to provide greater pricing clarity, helping consumers understand affordability at a glance, whilst ensuring that better quality leads are coming through to them, maximising their sales potential. We’re committed to enhancing the new car experience for both retailers and buyers and look forward to working with our partners over the coming weeks to make the new functionality a real success for all.”

Retailers are already seeing the potential in the feature. Mark Busby, director of commercial operations at Hendy Group, said: “We're excited to start displaying new car finance offers on our New Vehicle adverts on Auto Trader. We want to convert browsers to buyers and showing them upfront exactly what deposit contributions they'll receive from the OEM means they'll know the monthly costs of how much deposit is required - providing greater price transparency from the start of their journey and helping us to stand out in a competitive marketplace.”

Craig Carter, brand director at DM Keith, added: “Having the ability to now add clear finance offers to our new car adverts will ensure that prospective buyers feel more informed and confident when making a purchase with us. Not only this but the solution will be a real game changer for us as it will allow us to transact with consumers quicker than before, thus enabling us to save much needed time so we can focus our attention on other key tasks.”

Auto Trader points out that whilst the functionality for dealers to upload their offers is now live, consumers will be able to see and interact with the offers later this month.