2 separate Inovatec surveys shed light on pain points for lenders & consumers – post on Autoremarketing.com - Inovatec Systems

2 separate Inovatec surveys shed light on pain points for lenders & consumers – post on Autoremarketing.com

While enhancements in auto financing certainly have been made over the years, a pair of surveys orchestrated by Inovatec Systems Corp., revealed areas where improvements still could be made for the benefit of finance companies and consumers.

This week, Inovatec began with the results from its latest survey that touched on consumer pain points associated with finance companies when financing a vehicle.

When asked about the biggest complaint associated with financing their last vehicle, 56.8% of consumers said that finding a bank or finance company that would approve the purchase of the vehicle was their biggest complaint. 

An additional 37.8% of those respondents said there were too many steps involved, and 30.6% said the processing time was their biggest complaint.

In a separate survey, Inovatec recapped that finance companies were asked to identify issues and challenges with their current processes in their organization. More than 35.6% of participants reported operational issues were a struggle, while 28.1% reported issues in lack of efficiency.

Read the original article on the autoremarketing.com.