Research carried out over the last couple of years by companies such as Kwik Fit and Evans Halshaw has highlighted the extent to which motorists put off vital car maintenance; often opting to drive their vehicles in an unroadworthy state, simply because the cost of repairs exceeds their financial limits.

As revealed in an article from This Is Money, over 1.2 million UK motorists have admitted to knowingly driving cars that are not fit for the road. A large proportion of owners have also chosen the 'cheap fix' route of DIY repairs. Although this may sometimes be an acceptable move for those who know their way around an engine, repairs from the 'have a go' novice or 'friend of a friend' are extremely worrying. Indeed, as Kwik Fit discovered, of those who decide to carry out repairs themselves, "a third said the quality of the work they or a friend or relative did concern them".

Many motorists fail to realise that, as well as being dangerous, driving an unroadworthy vehicle is actually a criminal offence. A faulty exhaust system, faulty brakes, worn-out tyres, damaged seatbelts or even cracked 

 could all result in a fine of up to £3000 and 3 points on a licence. In some cases, motorists could even find themselves on a 'careless driving' charge. Of course, driving a vehicle that is unroadworthy can have far more dire consequences; posing a serious risk to the lives of the driver, other motorists, passengers and pedestrians.

Regional police units are routinely pulling dangerous cars from our roads as part of a national operation aimed at tackling unsafe and unroadworthy vehicles. Where possible, however, we need to prevent these cars from being on the roads in the first place! Given that cost is the main reason cited for the avoidance of repairs and maintenance work, dealerships can play a key role in promoting road safety; specifically, by offering cash-strapped motorists an affordable, achievable way of paying for repairs.

As with Bumper, the option to spread payments over a realistic time frame, at no extra cost, encourages motorists to put safety first:

A responsible lending solution means drivers can have work carried out at a reliable franchised workshop. It eliminates the need to 'shop around' and risks choosing somebody less reputable for the sake of a 'cheap fix'.

The ability to comfortably meet payments lessens the temptation to carry out DIY 'bodge jobs'.

For customers who may have otherwise been tempted to skip repairs altogether, interest-free payment plans offer the flexibility to 'fix now, pay later'. Motorists are given peace of mind that their vehicle is in safe working order and financial outlay is controlled.

Aftersales finance offers many benefits for dealerships, but it isn't always about enabling a larger proportion of red and amber work to be sold; it's also about demonstrating a duty of care to the customer.

Demonstrating your duty of care with aftersales finance

While 2015 saw the average British household spend just under £800 over the festive season, recent studies suggest 2016 could prove even more costly. According to research carried out by the Centre for Retail Research, UK Christmas spending is expected to hit a record £77.56bn, almost double the European average.

During a time of Christmas budgeting, we're all under pressure to funnel our money into the festivities and delay any non-urgent financial outlays in order to free-up some seasonal spending funds. Unfortunately, these 'non-urgent expenditures often extend to winter servicing and car repairs. Deterred not least by the prospect of the upfront payments these require, there is often a temptation for motorists to underplay the importance of car checks and maintenance; a decision which could have severe implications for road safety. (Indeed, the Christmas period tends to coincide with a peak in road accidents!)

Aware of the tendency for motorists to delay car servicing and repairs during the Christmas period, many dealerships choose the option of giving discounts to entice customers. Although a good idea in theory, in practice this is far from ideal. Not only does this eat into a dealership's profits, it does very little to resolve the problem of motorists having to pay out a lump sum upfront at a time when funds are destined to be spent on the highstreet.

As an alternative, interest free payment plans offer a much more practical solution, one which, crucially, has the potential to benefit both the motorist and the dealership. For drivers, payment plans offer the flexibility to 'fix now, pay later'. Payment dates can be arranged according to personal preference, meaning that instalments can be scheduled for after the festive rush. Motorists are given peace of mind that their vehicle is in safe working order and financial outlay is fully controlled. Dealerships on the other hand can charge full price for a service/ repairs with no reduction in profit, while still demonstrating their duty of care to the customer.

How dealerships can help the Christmas budget dilemma

In total, the company has raised more than £950,000 from a number of private investors. The funding will be used to enhance the machine learning capabilities used to process customer applications quickly yet responsibly.

It comes after the business enjoyed 1,000 per cent year-on-year revenue growth in 2016 as the total amount of repairs, servicing and accessories funded through Bumper exceeded £6 million, a 100% increase over the last six months. This followed an increase of more than 150% in its customer base, with the number of UK dealerships offering Bumper rising from 300 to 850 over the last 12 months.

The popularity of Bumper’s solution has led to it being rolled out across franchised dealerships belonging to some of the world’s biggest vehicle brands such as Jaguar Land Rover, Peugeot Citroën, Ford and Vauxhall. Dealerships have found their customers have been able to go ahead with work using Bumper that they otherwise couldn’t have afforded, allowing them to ensure their vehicles are safe and operational, while managing the cost.

The payment method is funded exclusively by dealers, who pay a small transaction fee on any sales made through Bumper, meaning the customer gets flexibility with no extra or hidden costs. It is the only funding solution available that focuses solely on the repairs and service market.

James Jackson, co-founder and CEO of Bumper, said: “It is clear there is great demand for more options when it comes to covering the cost of maintaining our vehicles, which is all too often an expensive and stressful experience. Bumper provides greater flexibility and transparency to enable motorists to stay on the road without the hassle of high, and often unplanned for, one-off bills."

“Dealerships have been offering finance packages on vehicle sales for many years, and they are beginning to recognise the importance of adopting interest-free payment methods within their service divisions."

“This investment will enable us to continue our rapid growth by growing our technology team to enable us to further improve the customer experience, adding more features and even greater flexibility."

Bumper secures major investment boost

Now in it’s 19th year, the FStech awards celebrate innovative and outstanding technologies in the UK and EMEA financial services sector.

Bumper is pleased to announce that we have been shortlisted for the Best Use of Social Networks or Gamification category. The nomination is a result of the implementation of our service advisor dashboard; an area for users in which they can earn points and prizes for helping customers to pay their repair bills.

We are competing against two other start-ups. Invstr, an app for aspiring investors and Yu Life a mindfulness and wellbeing app. Also in the running, is investment bank JP. Morgan.

Bumper CEO, James Jackson, said, “it’s an honour to be shortlisted at the FStech award and is testament to the team’s hard work and dedication in continuing to improve our product’s user experience”.

The awards ceremony will be held at London’s Marriott Hotel, Grosvenor Square on 21st March and hosted by Kerry Godliman, comedian and star of Ricky Gervais’ sitcom Derek.

Bumper Shortlisted for Best Use of Gamification at FStech Awards

The team had their record month for Bumper sales, which produced an outstanding month for their internal targets. Not only did they manage to increase their conversion of VHC work and average retail invoice value, Ford Bromley also had much happier customers in January, with the team hitting their monthly CVP target.

Bumper Director, Jack Allman, said, “Bristol Street Ford Bromley are seeing the benefits of proactively introducing their customers to Bumper at every touch point; at the booking stage, when the vehicle is dropped off and finally during the duty of care call. Having Bumper fully embedded into the aftersales process has resulted in great metrics and will promote long-term loyal customers”.

Sarah visited the team for a vehicle health check and said, “Very good service. Courteous staff and very helpful.” Another customer visited and said, “Excellent service and really helps to keep your car in perfect condition with the option to spread the cost over 3-6 months which can really help if you end up needing more work than expected”.

Service Advisor of the month: Be More Bromley

Well done to Steve and the team on a stellar month for helping their customers afford repair bills with Bumper.

Steve joined the Bumper network in January this year and since then has enabled numerous happy customers to spread their repair costs interest free. He and the team at Vertu Mercedes-Benz Reading had a record-breaking month in February, growing their Bumper sales by a huge 400%!

Bumper CEO, Jack Allman, said, “Vertu Mercedes-Benz Reading have recognised the value of offering Bumper to customers to enhance the premium experience created in their dealership. As well as helping convert work, the team recognise how Bumper improves the customer experience which drives customer retention and satisfaction”.

This increased customer-satisfaction is reflected in their recent five-star Trustpilot reviews. Simon visited the site and commented on the “very good service” he received during his vehicle health check.

Congratulations Steve and the team on your top performance!

Service Advisor of the Month: Reading in the Right Direction

Trustpilot, an independent review portal with over 56 million reviews, allows customers to share their honest experiences with companies by leaving a small comment and a 1-5 star rating.

Since March 2018 we have been asking customers to leave us feedback on using Bumper to pay for service bills and the results have been extremely positive. We are currently the 20th best rated company in the non-bank finance category and hold a Trust-score of 4.9 out of 5.

Trust-scores are based not only on how many stars we have been awarded by customers but the age of reviews, with a greater emphasis on the newest. This ensures we are rated on the standard of service we currently provide.

With 1,102 reviews, there are a lot of positive comments to be proud of. Here are a few of our favourites:

“Found this service very helpful, when I was faced with a big repair bill for my car. You had a choice of 3 months payments, no deposit or 5 months with a deposit, all interest free and you could choose a date of your choice to repay them in instalments. It was very easy to set up and gave me peace of mind. Would definitely recommend this company.”

- Stephanie, after her visit to Motorline Hyundai Canterbury

“Interest free payment option for car repairs. I forgot my card when visiting the dealership and I set the payment on my payday. You don't feel the pressure you normally have around your car service.”

- A customer who visited Go Vauxhall Wimbledon

“Had immediate response without lengthy discussions or reams of form filling. Been given this option, I was able to spread the cost of vehicle repairs interest free”

- Mrs Bird, after her visit to Bristol Street Hyundai Mansfield

Thank you to our customers who have taken the time to leave us a review over the last year!

1000 Happy Customers: Surpassing One Thousand Reviews on Trustpilot

Held at London’s Marriott hotel in Grosvenor square the awards recognise excellence and innovation in the field of information technology within the UK and EMEA financial services sector.

The award is in recognition of Bumper's innovative suite of dealership reports and dashboards, using the latest gamification and machine learning techniques.

The evening was hosted by comedian Kerry Godliman and saw Bumper beat investment giant J.P. Morgan.

Other winners included Barclays for Best Use of Mobile, Allied Irish Bank for Integration Project of the Year and HSBC for Risk Management Software of the Year.

CEO, James Jackson, said, “I am proud of the work we have done towards this award. The win demonstrates the teams hard work towards improving the experience for our users”.

Alastair Shephard

Content Writer