The capabilities of small and independent dealerships to offer customer financing and maintain compliance with consumer credit might seem out of reach. That is, until now. Read on to find out 10 ways Vantage Finance can help your dealership grow.
10 Reasons Vantage Finance Helps Grow Your Dealership
Financial technology advancements are changing the game. Financing from Vantage Finance offers advantages for every dealership size, below are some of its benefits.
Low-Risk Solutions
A solid professional relationship with a reputable finance broker helps mitigate the risk for you and your customers. The virtual finance broker runs customer finance applications through several criteria to ensure they can honor the payments. This approach decreases financial risk to your customers, which paves the way to favorable reviews and feedback – and increased referrals.
Bring in More Buyers
Financing attracts more buyers into your lot. Businesses that offer finance options sell 32% more than those that do not. If your dealership is not offering finance, you are losing business to a competitor who does.
Increase Loyalty, Trust and Referrals
The goal of any dealership is to offer quality services that cultivate trust and loyalty in the customer. Including customer finance solutions encourages buyers to return and refer your services to family and friends. Providing customers with flexible payment plans and reasonable rates can result in a satisfied client who brings in countless referrals.
Sell Multiple F&I Products
Vantage Finance connects you to an extensive range of lenders many do not have access to. Vantage also gives you the ability to offer additional products in your F&I portfolio, which contributes to more profit. These products include GAP insurance, tire and wheel products and windshield protection.
Drive Your Sales
Providing buyer financing is the perfect financial solution for the customer who has done their research, chosen your dealership as the preferred supplier, and is ready to own a vehicle out of their reach. Financing helps eliminate the stress of the unknown for your buyer and yourself.
Increased Sales
A customer finance option also increases the propensity of generating more sales and large sales orders. The added ability for a customer to pay over time is a powerful motivator in your car buyer’s path to purchase.
Increase the Value of Your Sales
The average order size increases by about 15% when you are offering customer credit and 93% of first-time customer credit users will come back again. Many customers are shocked to find out how much they are eligible to borrow. This means a buyer who wanted to spend $20,000 may find out they can borrow $40,000, so they spend more than they originally planned at your dealership.
Fast Payments
One of the biggest benefits for dealerships is that financed sales payments are processed upon loan approval. This means you are receiving payment in full, upfront. You do not jeopardize your cash flow to support financed sales.
An Entire Team of Financial Experts
Vantage Finance connects you to trusted lenders in the industry for a small monthly fee. These are financial experts who have undergone thorough screening, vetting, and employ the latest anti-fraud processes to ensure each application is safe and secure.
Offer Buyers the Best Protection
Your buyers are spending most of their time online shopping for cars. A virtual F&I program provides them with all the information they need to buy confidently. Plus, you have peace of mind your customers have everything required to stay safe on the road.
Invest in a Partnership with Vantage Finance
These top 10 reasons Vantage Finance can help your dealership grow show that you are likely leaving money on the table if you are not offering buyer finance. The decades of automotive industry experience at Vantage Finance help you make incremental improvements across all areas of your dealership.
Contact us today and get tailored customer finance solutions.
