Subprime Lending Can Increase Auto Sales
In 2016, American consumers purchased almost 17 million new cars, SUVs, minivans, and pickup trucks, the largest number since 2000, and an increase of about two-thirds from the dark days of 2009. The number of leased vehicles has also increased. What’s to blame (or thank) for this increase in car sales? The economy is improving, gas is getting cheaper, and it seems to be getting easier and easier to buy a car with borrowed money.
According to Reuters.com fewer than fifteen percent of new cars sold in the last quarter of 2015 were paid for outright. In addition, a little more than half of used car buyers also relied on credit. In today’s economy, this is not a bad thing. Lets’ face it – the average car costs about $33,000 new or even $18,000 for a used vehicle. Most people do not have that amount of cash available and if they do, they would likely be draining valuable savings to fund the purchase.
And while car sales may have increased over the past few years, dealerships across the nation are still finding trying to find ways to increase their market share and expand their business reach. The ability to offer financing options to a wide range of customers is the key to increasing business for any automobile dealership because, as we discussed earlier on, most typical consumers cannot afford to purchase a vehicle outright.
Subprime auto financing may be the answer to this dilemma. It is fact that traditional financing options only target a certain percentage of consumers, but offering subprime auto financing options to customers with less than perfect credit, can help a car dealership to expand their business reach and increase revenue and sales by tapping into a new and extended customer base. Until recently this large percentage of the population has been overlooked for potential sales and financing options. Subprime auto loans—which charge higher interest rates to consumers that are considered a high risk – can offer an affordable solution to the consumer with bad or no credit, and to a dealership that is looking to increase their sales.
Automobile dealerships that work with SubPrimeAutoLeads.com have seen a steady increase in sales. SubPrimeAutoLeads.com is an experienced lead generation company that provides credible subprime auto leads to dealerships throughout the country. SubPrimeAutoLeads.com utilizes a strong network of search engine-optimized domains that provide quality subprime automobile leads to dealerships. Through the use of an online immediate application process, subprime customers are vetted and credible leads are sent directly to a local car dealership. The dealers get the lead and then have the opportunity to sell the vehicle and achieve a sale.
Hundreds of automobile dealerships throughout the nation rely on SubPrimeAutoLeads.com to help them expand their customer base and increase sales. If you partner with SubPrimeAutoLeads.com, your dealership will benefit from increased sales, more exposure, targeted marketing and higher customer retention rates. Visit our website or call 1-866-311-LEAD today to expand your business reach and increase your automobile sales potential today.