Capital One’s new digital tool aims to make the car-buying process more transparent by assisting dealers in better understanding consumers’ financial preferences from the start.
According to a press release issued by Capital One on Friday, consumers can use the Navigator Platform to set a down payment, trade-in value, and term duration to find a payment that works for them.
According to the announcement, the tool also allows participating auto dealers to work with customers more effectively by determining what they can afford and providing a more open and accurate financing experience, whether the customer shops in-person or online.
According to Capital One President of Financial Services Sanjiv Yajnik, “Navigator Platform is all about providing dealers with the comprehensive tools they need to meet car buyer expectations by enabling consumers to engage in a similar process at home or in the dealership — and the financing information is consistent.” “Navigator Platform creates a clear experience at the dealership that both consumers and dealers value,”
The introduction of this online financing facility coincides with banks and Wall Street becoming more concerned about the debt loads of car buyers.
