Convert your online leads into profitable online sales! We all know how valuable credit app and trade-in app leads are. These are active customers looking to increase their sales knowledge and expedite the sales process. Many dealers use these tools, but they are disjointed from the actual buying process. Thus, the customer fills out a … Read more
Are you willing to give up $360 of gross for a digital deal that has miss calculated your online customer deal by $5? When your digital retailing process delivers a monthly payment guestimate that is $5 lower, do you end up eating that difference or battle the customer to get them to pay the difference? … Read more
I bet you have never heard a customer say, “I can’t wait to go to the F&I Box.” Well, most consumers don’t know it’s called “the Box”; they know that going into F&I is stressful and time-consuming. They know to put up their guard and push hard to get through the protection offers as fast … Read more
Because it’s hard, and we like to do hard things. That is why we built a true penny perfect digital retailing platform. We don’t guess or estimate payments for our partners. We deliver a fully integrated platform that provides a payment structure just like you do for dealership showroom customers. CreditIQ isn’t required to be … Read more
How do you feel when a customer goes all the way through the sales process, agrees to terms, and then tells you they want to “think about it” overnight? It’s deflating, annoying, and even disrespectful of your time. Especially when they never come back because they are at another dealership buying a vehicle from someone … Read more
Most BDC’s were set up to take internet and phone leads to allow the showroom floor salespeople to work the ups that were on the lot. Thus, they became information providers and appointment setters for the showroom sales staff. What would happen if you turned the BDC into a digital retailing sales force? One of … Read more
The allure of a digital retailing process for auto buyers is very enticing. Customers expect a digital retailing experience to be similar to their other online shopping experiences. They don’t understand nor care about the complexity of the automobile sale process and often walk away from digital “deals” when they get to the showroom and … Read more
Dealers work with everyone who wants to buy a vehicle and with the sales process moving online quickly it’s important to define the common term of “Perfect”. There are a lot of vendors touting “Perfect” calculation products that can be confusing to dealers. Perfect sounds great but what does it actually mean? There are two … Read more
In a time when discrimination and racism are a focal point in our nation, it’s important to look back on financial discrimination in auto lending and forward on how we can do better as an industry. In 2013, Ally Financial paid out $98 million to settle a suit claiming they discriminate by charging minorities higher … Read more
As dealerships look to adjust to the new sales processes that social distancing requires, it is important to see the benefits it brings. Here are some basic data points from a dealer group and one of their banking partners regarding online customers and financing. Less than 2% of applications were below the bank’s preset filters, … Read more
