Hey guys,
Special finance seems to be back. At one store in a dealer group in particular we have a great special finance managers and have always done well with special in the past. Like all aspects of our business, the internet has changed special finance and I think we have taken some positive steps to increase this department's success.
The primary step we made was to develop our own credit site: Cars with Credit | Bad Credit-No Credit Auto Loans | New Castle PA Auto Loans | Youngstown OH Car Financing | Auto Loan Financing New Castle, this is a credit psuedo site. Most people with bad credit don't do a Google search for a dealership, instead they are looking for a loan. We have it decently optimized and do paid search as well to drive traffic to it, despite these leads being better quality we still don't have the quantity needed for this department to do the kind of numbers we need it to do. Therefore, we still do rely on some 3rd party leads.
Obviously the closing ratio on any special finance leads are going to be low, but our seem to be particularly bad and don't have return policies at all and we have been getting a good amount of self-employed applicants that we can't do anything about.
We are looking to make a change, anyone have any recommendations?
Special finance seems to be back. At one store in a dealer group in particular we have a great special finance managers and have always done well with special in the past. Like all aspects of our business, the internet has changed special finance and I think we have taken some positive steps to increase this department's success.
The primary step we made was to develop our own credit site: Cars with Credit | Bad Credit-No Credit Auto Loans | New Castle PA Auto Loans | Youngstown OH Car Financing | Auto Loan Financing New Castle, this is a credit psuedo site. Most people with bad credit don't do a Google search for a dealership, instead they are looking for a loan. We have it decently optimized and do paid search as well to drive traffic to it, despite these leads being better quality we still don't have the quantity needed for this department to do the kind of numbers we need it to do. Therefore, we still do rely on some 3rd party leads.
Obviously the closing ratio on any special finance leads are going to be low, but our seem to be particularly bad and don't have return policies at all and we have been getting a good amount of self-employed applicants that we can't do anything about.
We are looking to make a change, anyone have any recommendations?
