One of the most complicated parts of selling a car is getting a consumer qualified for auto financing. While those with perfect credit can easily get a loan, customers who have a lower than average credit score may struggle to locate a finance company that will provide them with the loan they need to purchase a new car. Here are just a few of the many reasons why a centralized lender who specializes in poor or no credit applicants can help a car dealer increase their income and overall sales.
Online Approval Process
Submitting applications for financing online helps reduce the amount of paperwork that a dealership has to handle, and takes the time to process a loan from hours to just minutes. Don’t waste time with multiple banks and faxing in hard copy applications. Streamline the process by providing customers with a laptop or iPad, so they can enter the data themselves and reduce entry errors.
Online Customer Portal
Customers enjoy having the convenience to view their account online and will often review a submitted application during the processing period to watch for status changes. By providing consumers with an online portal, a car dealership can also provide users with the opportunity to apply for financing before they arrive at the dealership, which can decrease the amount of time it takes to close a sale and provide customers with a more pleasant shopping experience.
A comprehensive dealership dashboard will provide sales staff and financial department employees with instant access to reports and statistics, and allow all members of a team to check on applications without having to make a phone call. This can allow a car dealership to track sales and have the information they need to make business decisions at their fingertips.
Make the job of managing a car dealership as easy as possible by checking out the solutions available from Consumer Portfolio Services Inc. They can give any dealer a robust set of online tools that can help decrease paperwork and processing time, and increase sales and overall financial stability and success. Check out their site to learn more and sign up for a free trial to experience it first hand.