Yesterday morning, I was drinking my morning cup of coffee and catching up on the car news and blogs from the weekend. As I was perusing the headlines, Rick Wise’s blog “15 Steps to Sub Prime Success” caught my eye. I was curious about how Special Finance Group stacked up when compared to someone else’s standards of sub prime success.
Not surprisingly, Special Finance Group met or exceeded each of the 15 steps which we have listed below.
1. Plan for the sale: Planning for a sale means having the attitude that every contact could potentially become a customer. Special Finance Group employees from the phone representatives to the in-house special finance experts are ready to assist customers every step of the way and answer any questions that might come up.
2. Attract prospects: Special Finance Group utilizes both traditional and non-traditional ways of attracting customers. They generate their own leads through their website and through online social media outlets such as Facebook, Twitter, etc.
3. Master the telephone: Special Finance Group’s highly trained customer service phone representatives make first contact with potential customers. They set up the customer with an appointment to come into the dealership, and they generate excitement for the appointment and the prospect of getting into a vehicle.
4. Set the appointment: Setting an appointment instills a sense of urgency in the customer as well as a sense of importance and ownership. This is their appointment, and the special finance experts will be meeting with them personally. If they do not make it to their appointment, they might not be able to get into a car.
5. Master the meet & greet: From the first contact by phone through the meeting at the dealership, Special Finance Group employees are friendly and helpful. They strive to earn the customer’s trust and treat them with respect.
6. Perform a needs analysis: In the initial phone call, Special Finance Group phone representatives review the customer’s application, verify their income, and inquire if the customer is looking for any specific vehicle. This will give the phone representative an idea of what kind of car the customer is looking for, and the dealership can better meet that customer’s needs.
7. Take the statement: “The statement” means the credit application. From the beginning of the process, Special Finance Group ensures that all information submitted by potential customers is entirely accurate and that the customer brings all documentation verifying that information to their appointment at the dealership.
8. Make a credit decision: Based on the customer’s credit, the in-house special finance experts can quickly match them up with vehicles that meet their needs, fit their budget, and are also a good sale for the dealership.
9. Vehicle selection / reselection: One look at the customer testimonials is proof enough that Special Finance Group representatives do a fantastic job matching customers with dealerships so the dealership gets a sale and the customer gets the car they want.
10. Structure the deal and obtain lender approval: By scheduling customers by appointment only, the dealership is able to plan out the appointment and get the lender approval quickly without wasting the customer’s time.
11. Demonstrate the vehicle: Time and time again, customers compliment how smooth and easy the process is, and a big part of that is letting the customer check out cars while the financing is getting worked out. The customer stays engaged and gets to know the car they are getting.
12. Go over the number: Once the customer has found the car they want, the in-house special finance experts review the customer’s payment options. A customer wants to say yes to a car, not a contract. Once they know the car they are getting, they can get excited about it, and they can… (see #13)
13. Close the deal: Special Finance Group makes sure that steps #1 through 12 are in place so that we close more deals, and more happy customers drive off the lot in a new or used vehicle.
14. Contract and deliver: The in-house special finance reps are meticulous, and they make sure that everything is in place including the proper stips from the customer.
15. Ask for referrals: Our customers send us referrals all the time. We ask, and they are happy to oblige!
From the first contact up through the sale, Special Finance Group’s Complete Special Finance Solution covers all the bases and sets up dealerships for sub prime success! To learn more about the Complete Special Finance Solution, click here. You can also find Special Finance Group on Facebook and follow Special Finance Group on Twitter.
Image(s): FreeDigitalPhotos.net
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