The Key to Special Finance – Take the Time and Do It Right

ID-10081492In the world of special finance, everyone claims to have the secret or trick to creating a successful special finance department. Their trick is something no one has heard of, and even if their special finance department has other problems, all that a dealership has to do is follow this rule.

Actually, there is a rule that every special finance department should be following if they want to earn long-term success, but while it is simple to understand, it is more difficult to follow. The rule is to take your time and do each deal right. No excuses and no cutting corners. Everything good in life takes work, including business, and unhappy customers don’t give referrals.

If you are not sure what it takes to get it right, here are a few guidelines. First, customers need to feel that you are on their side. From the minute they walk in the door, they should be treated with respect, and when they start the process of getting approved, explain the entire process to them and make sure they understand. Do not condescend to them or treat them with disrespect. As the saying goes, it doesn’t cost anything to be nice.

Second, follow up with past customers. Even if they aren’t looking to trade in or buy a new car for themselves, maybe they are looking for a used car for their teenager, or they have a friend or relative looking for a car. If you treated them with respect and fully explained the terms of their auto loan, they will remember, especially if you follow up with them.

Finally, set the proper expectations for the customer with respect and kindness. It might not be feasible for them to get the car of their dreams if they have low credit or no credit, but they might be open to a good used car if they have been treated with respect and if they fully understand their credit situation.

Want to learn more about how Special Finance Group can work for your dealership? Go to today to learn more about the Complete Special Finance Solution, and connect with Special Finance Group on Facebook, Twitter, and LinkedIn!

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