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Xtime Launches FlexPay to Offer Improved Service Financing Options to Dealers and CustomersMISSION, Kan., July 7, 2020 /PRNewswire/ -- Many service customers struggle to pay for auto repairs out of pocket, making it difficult for dealerships to sell service recommendations in a way that maximizes fixed ops revenue. In fact, 71% of additional service recommendations and 29% of primary service lines go unsold.1To help increase dealer revenue per repair order and provide customers with more flexible service financing, Xtime is integrating with DigniFi to launch FlexPay, an easy-to-use payment option offered directly through the Xtime platform. With FlexPay, dealers can help boost service department revenue while making comprehensive auto repairs more affordable to customers. "Our research shows 63% of customers are unable to pay for a $500 auto repair out of pocket, so advisors are having difficulty selling not just additional service recommendations, but also regularly scheduled maintenance," said Tracy Fred, vice president of operations at Xtime.2 "These unsold services present a missed opportunity that dealers can reclaim by offering a simplified and streamlined service financing process." To fill this gap in the market, many forward-thinking dealers have already adopted service financing options to help make vehicle service more accessible to customers and lessen the impact of unexpected repairs on consumers' budgets. However, until FlexPay, service financing solutions required their own separate systems, complicating the sales process for service advisors and depreciating the customer experience. FlexPay offers a more streamlined service financing option from within a dealer's existing appointment scheduling and inspection process. The payment option is presented throughout the system as consumers engage with it. "Today, making a service experience easy and contactless are the keys to success, so excluding financing solutions as part of the process is no longer optional," said Richard Counihan, CEO at DigniFi. "By integrating with Xtime to create FlexPay, our dealer clients can provide a better customer experience while enjoying easy processing and potentially higher profitability." Dealers will discover the following competitive advantages by offering Xtime's FlexPay:
Xtime's FlexPay is currently available at no additional cost to all U.S. Xtime dealers with a DigniFi account through Xtime's Schedule, Inspect and Engage products. For more information, visit www.xtime.com/flexpay. About Xtime About Cox Automotive Cox Automotive Inc. makes buying, selling, owning and using cars easier for everyone. The global company's 34,000-plus team members and family of brands, including Autotrader®, Clutch Technologies, Dealer.com®, Dealertrack®, Kelley Blue Book®, Manheim®, NextGear Capital®, VinSolutions®, vAuto® and Xtime®, are passionate about helping millions of car shoppers, 40,000 auto dealer clients across five continents and many others throughout the automotive industry thrive for generations to come. Cox Automotive is a subsidiary of Cox Enterprises Inc., a privately-owned, Atlanta-based company with revenues exceeding $20 billion.www.coxautoinc.com About DigniFi DigniFi is a platform company that connects consumers with lenders for car repairs, tires, accessories, and other auto-related needs. The automated, contactless process serves up financial products through the point of sale at car dealerships and independent repair shops. DigniFi provides consumers with fixed payment plans from 12 to 36 months. The loans are originated through WebBank, an FDIC-regulated bank. To date, DigniFi has provided access to over $120 million in loans in partnership with more than 5,000 auto service centers. For more information, please visit www.dignifi.com. 1Cox Automotive, Cox Automotive's 2018 Service Industry Study
View original content to download multimedia:http://www.prnewswire.com/news-releases/xtime-launches-flexpay-to-offer-improved-service-financing-options-to-dealers-and-customers-301088907.html SOURCE Xtime |