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Santander Consumer Launches Drive Together, Offering Dealers Pre-Qualified Leads from Web Traffic

1. Santander launches Drive Together, enhancing dealer and consumer pre-qualification. 2. Drive Together uses soft credit checks, not affecting consumer scores. 3. Expansion aims to improve dealer lead generation and retail efficiency. 4. Consumers gain confidence by exploring dealer inventories online. 5. Santander focuses on delivering innovative services for a competitive auto market.

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Why Bullish?

The introduction of Drive Together could enhance customer engagement and dealership performance, potentially leading to increased revenue, similar to historical investments in digital services by auto finance companies.

How important is it?

The article discusses a significant product launch that addresses current market needs, likely improving SAN's business outlook.

Why Long Term?

The sustained impact of improved dealer efficiency and customer confidence will likely benefit SAN over a longer timeframe, as digital transformations typically offer lasting effects.

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DALLAS--(BUSINESS WIRE)--Santander Consumer USA Inc. (“Santander Consumer”) has launched Drive Together, a digital retail tool and expansion of Santander’s Drive® offering that provides pre-qualification resources to support a broad range of customer and dealer needs. Drive Together is a subscription service for dealers that resides on car dealerships’ websites, allowing dealers to generate pre-qualified leads from their web traffic. Santander's Drive® platform uses "soft" credit checks to prequalify shoppers, without affecting their credit score. With the click of a button, Santander Consumer is evolving the online auto shopping experience. For consumers, this latest innovation in the car buying process enables them to browse dealers’ inventory for a car that fits their needs and calculate what they can afford. With the ability to explore dealers’ inventory online and consider cars that are within their budget, customers can walk into the dealership with greater confidence and feel empowered to make an informed and affordable purchase. Drive Together gives dealers access to an expanded and powerful lead-generation product that is continually evolving to keep up with the changing needs of their businesses. By combining a platform to market their inventory, an easy process for generating pre-qualified leads, and a custom experience backed by Santander Consumer’s pre-qualification technology, the Santander Dealer Portal enables dealers to turn passive web traffic into ready-to-book leads. Through the Portal, dealers can actively manage their subscriptions and see their sign-up status and real-time inventory data helping to make the car buying process efficient for dealers and transparent for their customers. "Following a successful pilot stage, we are excited to expand Drive Together to all dealers nationwide,” said Bruce Jackson, Head of the Santander US Auto Business and CEO of Santander Consumer USA. "Drive Together enables consumers to better understand what they can afford and ensures more ‘transaction-ready’ customers are showing up at dealers in the Santander network.” Santander Consumer's Drive platform, the product of the company’s partnership with software company AutoFi, delivers a digital environment to provide a positive car buying experience for both customers and dealers. The expansion of this program aligns with Santander Consumer's commitment to provide innovative products and services to their dealers, helping them succeed in an increasingly challenging environment. “Our dealers are essential to our business. They are the driving force behind our effort to pioneer change and create greater transparency and efficiencies within the Auto business,” said Bruce Jackson. “This enhanced Drive product is an exciting step forward in building a seamless car buying experience for the dealers we serve, as well as the consumers who are seeking fewer friction points and greater clarity in the car-buying process.” Santander Consumer offers a wide range of financing options for consumers across the full credit spectrum. Drive Together is Santander's latest expansion of its Drive offerings and another milestone in Santander Auto’s quest to innovate and add more value to its dealers and be a resource for its consumers. Santander Consumer USA Inc., headquartered in Dallas, Texas, is a consumer finance company focused on vehicle finance, third-party servicing and delivering superior service to our more than three million customers across the full credit spectrum. Santander Consumer began originating retail installment contracts in 1997. Today it is a wholly owned subsidiary of Santander Holdings USA, Inc., and part of the Santander US Auto business, which manages a combined asset portfolio of more than $60 billion, as of December 31, 2024. The company is part of Madrid, Spain-based global banking leader Banco Santander, recognized as one of the world’s most admired companies by Fortune Magazine in 2024. For more information about Santander Consumer USA, please visit www.santanderconsumerusa.com. More News From Santander Consumer USA Inc.

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