LOT FINANCING
I HAVE A SMALL LOT KEEP 45 CARS. WE DONT DO BUY-HERE PAY. WE DO HAVE BANKS AND LOCAL FINANCE SOURCES. WE DONT ADV. PAYMENTS. THIS IS MY QUESTIONS WE TRACK UPS . DO YOU COUNT YOUR CUSTOMERS THAT THE FIRST THING IS DO YOU FINANCE? EVEN IF YOU EXPLAIN YOU CAN SUBMIT A APP TO MY FINANCE COMPANIES. NO WE CANT GET FINANCE THERE. DO YOU FIGURE THEM IN YOUR CLOSEING PERCENTAGE? THANKS
Replies to This Discussion
-
Permalink Reply by Tom White Jr. on -
Karonel:
We track ALL Ups; we call them Opps (short for opportunities) - regardless of whether or not we can get them approved. If they are on the lot expressing an interest in purchasing a vehicle they represent traffic that you should track. Your closing percentage should be a true reflection of your true lot traffic in my opinion...
-
Permalink Reply by Tracy E. Myers, CMD on
-
Karonel:
I agree with Tom on this one. While it may be tempting to exclude the folks that you can't offer financing to to "skew" your numbers, you would only be lying to yourself if you did so. On a side note: if my store was bringing in a lot of BHPH type opportunities and I didn't offer BHPH, I would seriously take a look at my marketing to see what I was saying in my message that attracted them in the first place. Hope you are well...
-
Permalink Reply by KARONEL PLOTT on -
THE FIRST 9 DAYS OF THIS MONTH. I HAD 13 PEOPLE . WANTING LOT FINANCING. 12 THAT DIDNT ASK FOR FINANCING. MY MARKETING IS MY WEB SITE www.karonelskars.com . WE JUST PUT A NEW SITE UP. LAST WEEK. THIS NEW SITE I DID INCLUDE A FINANCE PAGE. BUT SO FAR NO RESPONSE. NOTHING ABOUT BUY-HERE PAY HERE I HAVE A SIGN ON MY LOT WE BUY CARS. ADV IN LOCAL PAPER CLASSIFIEDS WE BUY CARS. THIS HAS BEEN GREAT FOR BUYING OFF THE STREET. IF YOUR NOT DOING THIS YOU MIGHT TRY. I GET 1 CAR MONTH AVERAGE. GREAT BUYS. I DO PUT PRICES ON MY WINDSHIEDS. ANY ADVICE WOULD BE APPERICATED. THANKS
-
Permalink Reply by Gene Daughtry on -
Tracy is right about the advertising. If you are not BHPH then you shouldn't advertise to draw in "bad credit". When I managed a high line used store in Dallas we didn't say anything about second chance or special financing and we still had alot of folks with bad credit applying. I agree that you should track everyone you are seeing so you can keep tabs with whats working and who's responding.
© 2010 Created by Greg Goebel.
