If you never want to set foot in a dealership to buy a new Volkswagen, you never have to. Today, Volkswagen of America and VW Credit, Inc.announced that VW dealerships will be able to collect remote digital signatures for financial transactions.
According to a release, Sign Anywhere is remote, digital signature tool powered by CDK Global that allows customers to remotely and securely digitally sign financial documents with their own computer or mobile device. This will allow customers to take all their business online.
Volkswagen and its dealerships will deliver a vehicle to its new owner without them having to set foot in a dealer’s storefront.
Photo courtesy of Volkswagen AG
Though digital signature technology has been widespread for years, this is one of the first instances where it has met the requirements of the financial services sector to make dealership visits not required.
“Planning to implement this technology began two years ago but since this pandemic took hold, we’ve accelerated our plan to make this a permanent tool for our dealers,” said Anthony Bandmann, President and CEO of VW Credit, Inc. “Customers are asking for flexibility and looking for peace of mind especially during this time and Sign Anywhere helps provide that.”
The particulars of the services allow for the execution of contracts to take place from the comfort of a personal device such as a tablet without physical interaction with a finance representative. The tool also uses two-factor authentication to transmit information and dealers can receive funding in hours following a vehicle purchase.
Its use will be limited to local laws. The digital signature tool will only be available where remote transactions comply with motor vehicle dealer laws and where dealerships participate with CDK Sign Anywhere. Dealers are responsible for knowing whether such transactions are legal in their state.
Sign Anywhere was initially made available to ten Volkswagen dealers as part of a pilot program in April 2020. The program has now expanded to approximately 420 Volkswagen dealerships across the country.
Over 1,900 vehicle purchases or leases have already been finalized using Sign Anywhere since the implementation of this tool.