32% of 2019 new vehicle “sales” were leased. Many of the premium brands had lease rates above 50% for the year.
When it comes to online sales, you want to ensure that you can provide Pencil Perfect Digital Lease Deals to these buyers, especially since these “buyers” switch vehicles a lot more frequently than most traditionally financed vehicles. Lease buyers know the brand, know the vehicles, and are more apt to upgrade to the newest model without shopping alternatives.
Accuracy, speed, and simplicity is key to getting these customers to lease a new vehicle from your website.
Your digital retail/leasing platform needs to be integrated with your showroom penciling process so that you can deliver Pencil Perfect Lease payments.
What does your digital system need to do to deliver Pencil Perfect Lease Payments?
- Use and integrate with the OEM money factor offers
- Include all state, county, local (street-level) taxes
- Include all dealer fees
- Include license plate registration fee
- Include government fees (smog, tire, etc.)
- Include OEM rebates
- Determine exact trade/lease return value
- Include Gap insurance and other products
Fortunately, CreditIQ’s Pencil Perfect Contract Ready Digital Retailing platform includes these items and more. As auto “buyers” continue to increase the percentage of vehicles leased, you need to make sure your store is ready to address these buyers digitally.
As an industry, we have to help customers buy from us regardless of hurricanes, fires, floods, pandemics, or just their desire to sit on the couch and purchase/lease a new vehicle from the comfort of their home. The 2020 year-end sales events will require dealers to be ready with a digital leasing option to maximize their year-end sales.
If you are interested in having CreditIQ get you set up for Pencil Perfect Contract Ready Digital Leasing/Retailing to make your end of the year sales events awesome, please reach out to us at – sales@creditiq.com or click below to learn more.
