Cars are a global necessity, and the auto industry shows no signs of slowing down soon. With the constant demand for vehicles, auto dealerships are realizing how important it is to partner with reputable finance companies to provide loan servicing for their customers. According to FICO's 2019 Consumer Survey, 63% of customers in the U.S. [...]
Bank reps will walk through your dealership’s doors regularly with new programs or fresh strategies designed to sell more cars. However, if you’re not careful, you could end up with more sources than you need. Lenders are looking for more contracts to build their loan portfolio, not just more applications. Look-to-book ratios will be monitored [...]
As an independent dealer, you understand the importance of securing solid financing options for your clients. After all, offering retail financing is the key to helping you sell more cars as well as boost your bottom line with backend products. But how do lenders view your independent dealership? It boils down to risk and cost. [...]