Cycle Trader and ATV Trader, online marketplaces for new and pre-owned motorcycles, off-road and powersports units, have expanded their Buy Now digital retailing capabilities to become the first buying/selling sites in their industries enabling all financing and purchase steps to be completed online. Features include incentives, digital credit applications, finance and insurance (F&I) options, nationwide driveway delivery with a real-time map tracker, a digitally signable purchase agreement and a seamless user experience to provide both buyers and dealers the ability to close deals quickly and easily.
The latest released features amplify the digital retailing capabilities that the two marketplaces introduced last year to accelerate the financing and buying experience. With weekly enhancements since then, the Buy Now platform has more than doubled finance opportunities and deals for participating dealers over the past 12 months and recently earned a Powersports Business Nifty 50 award for its ability to help original equipment manufacturers (OEMs) and dealers streamline their sales operations as well as meet consumers’ demands to do more online.
Once dealers activate Buy Now, buyers interested in purchasing online or simply taking the process as far as they’d like online can:
- Start a deal with one click by visiting the product’s vehicle detail page.
- Select available manufacturer cash and sales incentives to ensure they are getting the best deal possible.
- Complete full credit applications online, greatly expanding the dealer’s financing capabilities and alleviating the sales team members and the finance manager. Credit applications completed through the Buy Now platform are sent directly to the dealer’s lending system for processing.
- Select a preferred delivery method, including nationwide driveway delivery with real-time delivery updates. Consumers specifying at-home delivery from dealers anywhere in the U.S. can now track shipping status in their MyTrader account, making Cycle Trader and ATV Trader the only powersports marketplaces to offer a map tracker from the dealership to the buyer’s driveway.
- Indicate or purchase any additional service coverages desired, including vehicle service contracts, tire and wheel protection, and theft protection.
- Place a deposit and reserve a vehicle online.
- Review a penny-accurate deal summary, including city- and state-level taxes and fees, ensuring “what you see is what you pay” pricing that eliminates negotiation and conflict.
- Digitally sign a purchase agreement with identity verification to lock in the deal and support online fraud prevention.
Buy Now not only supports dealers’ existing business models and systems but also bolsters financing and overall revenue opportunities by enabling buyers anywhere in the country to apply for credit on any vehicle with activated Buy Now coverage.
Additional benefits for dealers include backend integration with dealer systems and a Buy Now dashboard on the TraderTraxx portal used to manage their inventory, leads and reporting, providing one-stop information for all Buy Now deals. New functions are continuously added to increase the value to dealers, lenders and buyers.
“From the onset of Buy Now, we’ve been on a mission to digitize every aspect of the buying process, addressing decades-long points of contention, and have focused on delivering transparency, convenience and functionality,” said Troy Snyder, vice president of digital retailing and private marketplaces for Trader Interactive, the parent company of Cycle Trader and ATV Trader. “Our guiding principle is to not only fully support our dealers’ existing business models digitally but also dramatically expand on their revenue streams. Buy Now will continue to evolve as we advance our technological and data integrations to drive even greater value to our consumers, lenders and dealers. Financing and purchasing a vehicle online has never been so seamless, effortless and quick.”
Buy Now is available today nationwide to buyers and dealers for new and pre-owned vehicles. Interested dealers can activate their inventory by contacting their Cycle Trader sales rep or visiting https://cycletradermediakit.com/buy-now/ for more information.
