This is one reason that you need qualified personnel in your Special Finance Department. Your personnel must have an in-depth and thorough knowledge of the entire operation of the Special Finance Department.
Whether or not your dealership interviews every customer, if you’re serious about Special Finance you need to be interviewing every Special Finance customer.
Your personnel must have a complete and thorough understanding of your financing sources and completely review the customer’s application and credit report. Let the customers know the financing process and keep them engaged. Review the application and credit report with the customer to confirm its completeness and accuracy.
Prepare your customers for the sale and sell based on a complete understanding of income, credit, desired vehicle, down payment and trade information. It will load you with all the information you need about what your customers’ primary concerns are, build your customers’ confidence in your ability to help them and give you the knowledge on how to structure the best deal.
The interview will get you all the information you need and establish repoire all of which will help you find the best fit for your customer while involving them in the process at the same time.
There are many things to consider if you are to have a fully functioning Special Finance Department. If done right you will be will have an effective program and another profit center that will drastically increase your average front and back end grosses and sell more units.