Ford lets buyers select cars and arrange financing all online

Published 1:30 am Sunday, February 5, 2017

By Samantha Masunaga

Chicago Tribune

Car buyers at one Ford dealership can now limit their time in the showroom by purchasing or financing a vehicle online — and more dealerships will offer the option soon.

Ford Motor Credit Co. says customers at Ricart Ford in Groveport, Ohio, near Columbus, will be able to use an online platform to pick a car, choose financing terms and purchase it before arriving at the dealership to pick it up.

Ford said it will eventually roll out the online platform to other Ford and Lincoln dealerships around the country.

The software platform was developed by online auto financing startup AutoFi, with the Dearborn, Mich., automaker’s financial services arm providing financing for the customer’s purchase.

“We are making the customer experience faster, smoother and simpler,” Lee Jelenic, Ford Credit director of mobility, said in a statement.

AutoFi’s platform connects car buyers with various financing options. Until the Ford deal, AutoFi said it had worked only with auto franchises on used-car purchases.

In May, the company said it had raised $17 million in new financing.

— Chicago Tribune