Honcker, an online car leasing service, began in September. And they have partnered with nearly 50 lenders already, depending on where you live.
Honcker quickly added this many lenders. Because they communicate and work with dealers through their CRM systems that already exist. They have already added two of the top three dealer groups in the nation, and are about to close on the third.
The company expects that consumers will lease through the manufacturer’s captive 90% of the time. However, Honcker is partners with credit unions as well, for dealers to add to their dashboard. If by chance the credit union has a better deal, that’s the rate that will show up.
The app works in just three steps: look at vehicles, pick out your car, and complete the lease applications. The entire transaction is done within the app and customers can either pick it up at the dealership for a test drive or have it delivered right to their home.
Dealers have control over which results the customers see in the app by putting in their specific zip code and determine pricing below or above invoice. Honcker can display monthly lease rates in real time which accurately reflect their personal information and credit score.
Honcker is also planning to sign with RouteOne, gaining access to their network of over 1,400 lenders. they also plan to begin loan financing in early 2017.