Car dealers today need to compete fiercely for the business of customers. Failing to do everything possible to win new clients can easily mean being forced out of the industry.
Oftentimes, working with a lender like Consumer Portfolio Services ends up being an especially productive move. Doing so will enable dealers to sell to buyers who would not normally qualify for financing, and it typically proves to be easy to manage, as well.
A Straightforward Way to Line Up Financing for More Buyers
While buyers with excellent credit ratings typically have many options before them, others must cast their nets much more widely to obtain financing for car purchases. Dealers who are ready to help can thereby end up selling more cars themselves, thanks to the assistance they provide to shoppers.
Working with such a lender also typically proves to be easy to do. Normally all that it will take, once a relationship has been established, is checking off a few boxes online:
- Qualifying – Every sale a dealer concludes with a buyer who will need this style of financing must meet previously established standards. In the vast majority of cases, these will be significantly laxer than those that would be imposed with traditional types of lending. Nonetheless, dealers are held responsible for making sure that their transactions live up to these requirements and must then submit them to lenders for assessment.
- Title transfer – Once a particular deal has been approved, it will then be necessary to have the vehicle’s title passed on to the lender in question. Fortunately, this process has been made as easy as possible, as well, so that busy dealers do not need to expend excessive time taking care of such details.
- Payment – Finally, a payment to the dealer will be transferred, with the amount varying according to the established terms. All in all, dealers can expect to be made whole quite quickly, even if something of a delay compared to a traditional financing arrangement might be needed.
Doing More Business and Building New Relationships
By merely working such a simple process into their usual styles of doing business, dealers can count on selling more cars and trucks. Being ready to accommodate buyers who need help with financing does not have to be difficult to do at all.