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Did you know that almost 25% car buyers are subprime in New York? Hence targeting subprime auto loans seems no-brainer. Even though a vehicle is the second most expensive investment of one’s life, no one can ignore the importance of it. And when someone walks into your dealership, the first thing they want is to see cars based on their financial status. And if they fall into subprime category, your sales executive must know how to help someone with less than standard credit score.
Not every dealership focuses on subprime auto leads and they are still making profit, but they’re not definitely making it in the big way. Hence, if you’re also one of them then you’re missing out on big conversion. Here’s why-
You can still earn profit from old inventory:
Once your inventory touches more than 90 days, it’s termed as old stock of cars. Having old inventory is considered to be one of the biggest problems. And there is a good chance that you will end up losing money down the line, even in moving the cars. But, there’s a solution in every problem. If you have dedicated subprime lead generation agency, it will help same category buyers to choose from the cars from your old inventory.
Keep a consistent flow of leads:
There are times when businesses go really down. In some months, you may feel that the business will go simply dry. This is because you haven’t set your marketing strategy properly. For every business, personalizing marketing strategy is crucial to get through every season profitably. When it comes to an auto dealership, having a subprime department grabs more leads from people seeking for financial advice to purchase their first car. Since more than 25% buyers fall into this category, targeting them will help you keep a consistent flow of leads.
Don’t lose your precious sales head:
Your experienced sales people are crucial to your dealership. They welcome your customers, speak with them, understand their needs, suggest them suitable products and drive them to make final conversion. They do all these for the sheer interest to get high pay commission on making sales. When you offer them good incentives, they stick to your business to bring growth. Securing subprime auto leads will not only keep your business up and running but the sales people will be happy too.
Don’t miss out on manufacturer’s target:
New car dealerships run behind meeting manufacturer’s target because they need their returns of investment. A subprime customer has a basic requirement that they want the car to be within their credit limit. You can easily steer them towards your inexpensive range for new vehicles (this will generate new car leads too!).To know more please visit- https://www.autoleadpro.com