Automotive dealerships constantly face economic challenges, and one of the most significant issues is finding funding solutions for potential buyers that don’t have the highest credit scores. While it’s no problem to find appropriate lenders for purchasers who have high credit scores, there are generally problems pairing individuals with a limited credit record, past delinquencies, or lower incomes. That’s where the advantages of working with Consumer Portfolio Services comes into play.
Increase Sales Quickly
When financing borderline purchasers is no longer a deterrent, dealerships are able to boost their sales and net profits quickly and easily. That increased profit makes it possible to improve facilities, hire needed employees, and increase inventories. Dealers exploring innovative ways to push their total sales to a new level generally find working with industry-leading lenders makes generating new business a simple and straightforward process.
Benefits the Customer Sees
Far too often, consumers are forced to settle for less when working with some more traditional lenders. That means the vehicles they are able to purchase will be less expensive and older. The interest charged tends to be exorbitant, and lenders demand far more documentation than is really necessary. Better lenders understand loans to some individuals include a somewhat higher level of risk, but they don’t take advantage of those buyers.
The borrower is also offered online payment options that allow making the monthly payments easy. When there is no need to visit the office of a sub-prime lender or mail a payment, the odds of missing payments are reduced. Borrowers can see their credit scores improve, which makes financing future purchases less costly.
Take the First Steps Today
If your automotive dealership is seeking a new partner that will make achieving an increased business volume an achievable goal, today is a great time to get started. Contact CPS now to discuss the available options and determine if a partnership is, indeed, feasible. Since the auto sales industry is highly competitive, dealerships that offer consumers the financing they need at great rates are more likely to succeed and build their clientele. It’s easy to contact CPS, and the benefits are well worth the minimal time investment required.