Everything you need to know about special finance at your dealership.
Special finance is for every dealership no matter the size or type. Our CEO Wes Crumby discussed this very point with Tom Stuker for a second time on CBT News.
Dealerships averaging 80 units a month have the opportunity to move 115 units a month by adding special finance to the mix. By implementing the shark tank approach, special finance and finance can determine the best win for the dealership and the customer. Special finance departments with the right lenders can turn a $600 deal into a $3,000 deal.
Larger dealerships moving 600 units a month or high-end brands that typically don’t focus on special finance should be. They are missing out on a portion of buyers. Subprime and special finance doesn’t necessarily mean no income. Consider the entrepreneurs with high incomes taking business risks that can sometimes leave them with credit blemishes. They have money down, a great income, but can’t get financed conventionally.
Special finance, when done properly, at any dealership offers big rewards. Pairing that department with a direct mail program that actively targets customers matching your preferred profile can make all the difference. When looking for a lead provider, compliance is key. When working leads, building and maintaining relationships can fill your sales funnel with loyal customers and repeat business for life. Watch to learn more.
About Wes Crumby
Our CEO, Wes Crumby, knows just how critical lead generation is to car dealers. Having held several dealership management positions, Wes found his niche in special finance while serving as the National Director of Special Finance for Garber Automotive Group. Crumby’s expertise and success quickly became the highlight of the market, which is how he transitioned into dealership consultation throughout the country. From his experiences, Wes invented Lot-Pro and sold it in 2004 to Auto Credit Express. He then introduced the “Ace-Cities Selling System,” and in turn introduced special finance to over 500 dealers nationwide. From there, Wes opened Subprime Dealer Services in 2007.