Moneyshake Launches World’s First Car Changing Tool To Help People Get Out Of ‘Car Finance Rut’< Back to blog
- Moneyshake launches unique and innovative Car Change Calculator
- Currently the only online tool which will give users a complete understanding of car financing options, including current status and offer an easy way to change their car, in one digital journey
- Using the registration number and a few finance details, users can switch from a car with outstanding finance to a brand-new model
- Moneyshake is a car finance aggregator specialising in offering people the best deals on car leasing and PCP finance agreements
Moneyshake, the price comparison website, has launched a tool which will help people change their car – regardless of their current vehicle finance.
The Car Change Calculator
The ‘Car Change Calculator’, as it has been named, enable users to easily change their car through a clear and simple journey, regardless of their existing finance product. Through building a picture of their current position and their vehicle requirements, Moneyshake’s calculator will provide its customer with a variety of options available to them so that they can make an informed decision when changing their car.
Moneyshake’s Car Change Calculator is the first consumer facing portal to give people:
- A valuation for their existing car
- The amount of equity it has
- A straightforward way of selling it
- Finally, a simple way of searching for their new vehicle
Moneyshake initially developed the calculator to make it easier for drivers with outstanding finance on their current vehicle finance agreement to change model. In their recent consumer car buying report, the business found that nearly half of people said that changing a car with outstanding finance would require time and effort. In the same survey, 87% of people said that a tool which helps them find the best car finance option, regardless of their current car finance situation, would simplify the process.
Darren Guiver, former managing direct of Group 1 Automotive UK and Director on the Moneyshake board, said: “The Moneyshake car change calculator brings full circle control for the customer. They are able to get a valuation for their existing car and very quickly get payments on a new finance package tailored to their needs.
“This gives the consumer more knowledge and helps them make this massive purchase decision from the comfort of their own home.
“They can use this tool to ascertain if they can change their current car at any point during their existing finance agreement.”
One digital session to fully understand the available options
The Car Change Calculator is designed to be a simple, intuitive tool that allows the customer to fully understand their options for purchasing a new vehicle in one digital journey. To get started, users need to enter their existing car’s registration into the Car Change Calculator. It will then provide a variety of options available to them for changing their car, using information such as the residual value and amount borrowed to help them decide on their next car.
People are then given the option to change their current car, either through selling it, settling their finance early, or seeing out the remainder of their contract. They can sell their car and search for a new one using Moneyshake’s calculator, which will give them a full picture of their vehicle finance situation so that they can make the best decision.
Those who are financing their vehicle through Personal Contract Purchase, Hire Purchase and car leasing agreements can all use the calculator. As can people who own their car, with a built-in function allowing these people to sell their car for in just 24 hours for the best offer from 3,000 dealers.
Eben Lovatt, Moneyshake CEO, commented on how to get the best out of the calculator. He said: “With the car change calculator we’ve created a ‘one-stop shop’ where someone can change their car if circumstances require them to. Many valuation tools, selling services and car choosers don’t solve the problem people face once they’ve sent their car onto pastures new, which is ‘What do I do next?’
“Most people would need to use multiple services – potentially with charges involved – if they wanted to change their existing car. We wanted to create an integrated, simple journey which informs people of the best way to get out of the old and into the new.”
Moneyshake continues to expand the market
The Car Change Calculator is another addition to a suite of car financing tools offered by Moneyshake.
As well as allowing people to easily change their car, Moneyshake is a car leasing comparison website which allows customers to quickly find the best personal and business car leasing deals from the UK’s top providers.
The business has started to gain coverage across all major manufacturers by partnering with franchised dealers to offer PCP finance to its customers. This side-by-side comparison of car leasing and PCP prices will allow people to choose the best method for financing their vehicle.
Moneyshake’s next step for innovating the car finance market is to launch new technology which they claim will ‘enhance the current static price comparison model’.
Moneyshake CEO, Eben Lovatt, explains the Car Change Calculator in less than 30 seconds!
To find out how Moneyshake can get you the best deal on a new car lease visit Moneyshake.com