Luxury cars are projected to generate over $10 billion in sales in the United States alone this year. However, luxury cars are not just for the billionaires of the world. People of all income brackets are looking to purchase luxury vehicles, and car dealers are improving their own bottom lines by offering manageable financing programs to their customers.
What is Dealer Financing?
Dealer financing makes the total cost of purchasing luxury cars more accessible to your customers. Like other forms of consumer financing, dealer financing spreads the cost of the vehicle over manageable monthly payments. This means that people from all walks of life can get the car of their dreams, and it means your dealership can move more units, which translates to more revenue. Dealer financing is simple to implement and secure for both dealerships and their customers. Additionally, the program can be scaled to fit almost any budget and credit background.
How Dealer Financing Works
Dealer financing is a fairly simple process. When you get a buyer for a luxury car, the customer fullsfills out a simple form and it is submitted submits it along with the invoice. From there, the financing team structures lending options around the information received and the customer’s credit history. Next, the customer selects the option that works best for them and the paperwork is signed. Once the agreement is reviewed by the dealer financing team to confirm that everything is in place, the sale is finalized. The customer drives home in a new luxury car and the dealership enjoys the revenue.
Dealer Financing as a Marketing Tool
Dealer financing makes for a powerful marketing tool. Luxury car dealers that offer financing options attract more customers than those that don’t. When combined with dealer-sponsored promotions, more customers will come into a dealership ready to purchase a new luxury vehicle. Additionally, offering financing options goes a long way toward building customer loyalty. When your customers get to choose a financing option that fits their budget, they will talk to family, friends, and coworkers about the great deals they got from your business. In turn, those people will be more likely to come to your dealership when they are ready to purchase luxury cars. Extrapolate this word-of-mouth to people engaging with each other on social media about their purchases, and your customers become an extension of your marketing department.
Start Selling More Luxury Cars Today
Web Finance Direct offers dealer financing for luxury cars and other big-ticket vehicles. We work with a network of lenders who provide financing options through us that you can offer to your customers and increase your bottom line. Dealers who use our program are funded on loan proceeds, as well as any money made on the lender’s reserve and vehicles sold. If you sell luxury cars and want to move more units by offering financing options to your customers, contact Web Finance Direct today.