This week we continue our Territory Series as we focus on a new set of states with Mike Sadowski, an Auto Finance Marketing Consultant.

Mike’s Territories: Alaska, Massachusetts, New York, Ohio, Pennsylvania, Utah, Vermont, Wyoming.

When it comes to finding an appropriate match between our proactive consumers and a qualified dealer I like to take a consultative approach with the dealership.

I am able to provide advice not only on how to set appointments and get consumers into the showroom but to ultimately get them approved.While some dealers are still hesitant about special finance customers, it is a fact that 40% of Americans now fall into that subprime category.

Most dealerships are turning to subprime to avoid losing market share to competitors who have been working with secondary finance for years.

The most important thing is to know how to treat the customer once they are in the door:

Make sure they understand what the limitations are to buying a car and what it is that they qualify for.
Show features and benefits of the automobile that they are interested in.
If the customer doesn’t qualify, still counsel them on why the bank denied/declined their credit. Help guide them on what they can do to improve their credit.
After the sale or even denial, follow up with the customer.
Follow-up or special attention to a customer who is unqualified or may even have been declined may seem like a waste of time. However, this is actually an opportunity to differentiate yourself from all the other dealerships they have experienced.

All customers remember good experiences, and they will remember how helpful you were when their financial situation changes. If you are courteous and helpful the customer will even refer their friends and family to you for their automotive and financing needs.

Some dealers understand the need for a secondary department but are still in the process of developing a portfolio of subprime lenders or obtaining the right type of inventory.

At Carloan.com we have a unique program called Carloan Prequal, to help filter out some of the deep subprime consumers that only the most seasoned special finance managers can work with. We also offer a low fee subprime lender, Interactive Financial Acceptance (IFA), in order to help finance some of the more difficult deals. We also can supply lists of lenders in their state to help them be successful.

Contacting Mike Sadowski:
804-521-8577 (Direct)
804-521-8600 (Fax)
mike@carloan.com

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