Posts by Web Finance Direct
Why Vendor Due Diligence is Crucial for Credit Unions and Banks
For banks and credit unions alike, the increasingly interconnected landscape of the lending sector can come with its challenges. With the threats of ransomware, auto loan fraud, and more on the rise, it is crucial for lenders to fortify their operations, ensuring seamless processes and aligning with applicants with proven credit scores. One way to…
Read MoreFive Key Steps to Start Your Own Indirect Lending Program
For lenders like credit unions and banks, a well-run indirect lending program can make a major difference in their ability to connect with qualified applicants. It is one of the best lending solutions for credit unions and banks alike. Compared to direct lending, where borrowers go directly to their bank or credit union to receive…
Read MoreIntroducing the New Web Finance Direct Dealership Platform and Customer Mobile App
At Web Finance Direct, we are continually updating and optimizing our processes to ensure that dealers, applicants, and lenders alike have the best financing experiences possible. With that, we are proud to announce the launch of our new dealership platform and mobile app! This makes the loan application and financing process simple for dealers and…
Read MoreIndependent Dealers Looking for Indirect Lending: Start Here
Does your independent dealership offer indirect lending to your customers? The contemporary market thrives on fast, convenient solutions, and in the realm of vehicle purchases, flexible financing is no exception. According to a 2023 report from MIT, there are over one hundred million auto loans currently in the U.S., with a combined value of roughly…
Read MoreThe Web Finance Direct Guide to Indirect Lending
Throughout the American economy, financing continues to play a major role. For many consumers, the ability to borrow money to pay for their purchases over time gives them the flexibility they need, especially when it comes to more expensive, big-ticket items like cars, RVs, and boats. Take the RV industry, for example. As of 2021,…
Read MoreAuto Loan Fraud: WFD’s Guide to Combatting the Growing Issue
Auto loan fraud has been growing exponentially in recent years, especially here in the U.S. where it is considered to be detrimental. As we head into 2023, loan fraud, especially in the digital space, is expected to continue its rise. For both lenders and dealerships, the risk of selling to consumers who use fake identification…
Read MoreIn-House Financing vs. Full F&I Services: Which is Best for Your Dealership?
Have you ever heard the phrase, “buy here, pay here”? In the dealership world, this is a common way to describe in-house financing. For potential customers, the thought of one-stop shopping is an appealing one, especially when it comes to getting loans for their desired purchases. Take the auto industry, for example. By the end…
Read MoreCustomer Financing for Small Business: Why it’s Important for Your Dealership
If you’re the owner of a dealership, large or small, offering financing to customers is a great way to attract more buyers. For most consumers, purchasing a new or used vehicle, boat, or RV is a major financial commitment. Customer financing for small businesses not only gives consumers the flexibility they need but also signals…
Read MoreWhy Offering Financing as a New or Used Car Dealer is an Essential Part of Success
To offer financing as a used car dealer can give your business a leg up on your competition. Purchasing a new or used vehicle, boat, or RV is both exciting and daunting for consumers, who will want to get the best deal possible. Over half of all U.S. consumers choose to finance their used car…
Read MoreMember Retention: Why is it Important? And How Can Your Credit Union Improve?
The credit world is extremely competitive. Today, consumers have more options than ever before to choose from when making auto or boat purchases. Because of this, it is crucial that your credit union prioritizes member retention. Simply finding new members to replace those that might have left will not lead to growth in membership retention…
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