Capital One Auto Navigator App Gets New Feature
At the 2018 SXSW conference in Austin, Capital One introduced a new feature in their Auto Navigator app. This augmented reality feature will allow users to scan a car with their mobile phone and get individualized information related to the vehicle, including financing information, a payment calculator, and a list of nearby dealerships that currently sell the car.
The feature was created to make it easier to shop for a car. Wakefield Research found half of Americans say they spend more time researching and buying a car (50%) than deciding where to go to college (43%) or even what to name their children (22%).
Even though consumers are spending a lot of time researching vehicles, they still have little confidence they are making the right decision. More than three-fourths (78%) of Americans said they lost confidence in getting the car they wanted as they were shopping.
Capital One first introduced Auto Navigator in 2015. At that time, it allowed customers to pre-qualify for financing before visiting a dealership.
At SXSW, Capital One also introduced an improvement to Eno, their AI assistant. Now, Capital One cardholders can shop online with a virtual number supplied by Eno instead of their actual credit card number. Not only will this make online transactions more secure, card members will not need to update their card information with merchants if a card is lost or replaced, and can manage their virtual cards through a dashboard.