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The Modern Automotive Payment Experience: The Rise of Alternative Payment Options
Payment choice and flexibility are of critical importance for dealerships with an eye on long-term growth. This key finding is an overarching theme from a recent survey commissioned by PayJunction, that surveyed 500 U.S. consumers who own a vehicle, possess a credit card, and have visited a dealership within the past 12 months. The strongest lesson from the data is not that consumers prefer one payment method over another. It's that consumers want options. Whether they choose a credit card, debit card, cash, check, or Buy Now, Pay Later solution depends on their circumstances, financial goals, and stage of life.
PayJunction Team
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The Modern Automotive Payment Experience: What Surcharges Actually Influence
Payment choice and flexibility are of critical importance for dealerships with an eye on long-term growth. This key finding is an overarching theme from a recent survey commissioned by PayJunction, that surveyed 500 U.S. consumers who own a vehicle, possess a credit card, and have visited a dealership within the past 12 months.
PayJunction Team
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Why Dealerships Are Upgrading Payments Without Replacing Their DMS
For many dealerships, payments have traditionally been treated as a back-end function, necessary, but not strategic. But, as margins tighten and customer expectations increase, that’s starting to change. Integrated payment solutions are part of that shift, making it possible for dealers to add new payment features that can save time and cut costs in a day or less. While some dealers may think they have to choose between the payment options that exist inside their DMS or adding a disconnected third-party tool, a no-code payment integration can offer dealers the best of both worlds. At a basic level, integrated payments connect the transaction process directly into dealership systems, such as the DMS or service platform. Instead of manually entering the transaction amount into the payment system and then going back to the invoice or repair order to mark it as paid, integrated payments connect these systems and remove the manual steps. The result is a simpler, more connected way to accept payments. This also means dealership payment upgrades can be deployed quickly, often in a day or less, without requiring a DMS change or employee workflow overhaul. Now, with the quick and easy upgrade that integrated payment systems offer, more dealers are able to assess the strategic impact that upgrading to a payment processor designed specifically for dealerships can bring, both to the customer experience and the bottom line.
PayJunction Team
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How Andean Chevrolet Reduced Monthly Processing Fees from $40k to $6k
Credit card processing fees were quietly draining margin at Andean Chevrolet. In June alone, the dealership spent nearly $40,000 on credit card processing. That level of expense limited their flexibility, and hurt their bottom line profit.
PayJunction Team
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Understanding Payment Options for the Automotive Industry: Third Party Payment Processors vs. MSPs
The Landscape of Payment Processing If you've ever felt like navigating the world of payment processing is unnecessarily complicated, you're not alone. There are numerous moving parts, and many payment processing companies claim to make it easy for you to accept card payments. But beneath the surface, these providers operate under very different models, each with varying pricing models, transaction fees, onboarding processes, and risk factors.
PayJunction Team
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Online Payment Systems for Automotive Dealerships: A Practical Guide to Securely Accepting Payments
Many customers expect dealerships to offer fast, convenient, and secure payment options, whether they're purchasing a vehicle, servicing one, or ordering parts. With modern online payment solutions, your dealership can meet expectations by reducing friction, increasing cash flow, and streamlining operations across Sales, Service, and Parts.
Michelle Wagner
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