Background:
With prices averaging more than $28,000 for a new vehicle and $15,000 for a used vehicle, most consumers need financing or leasing to acquire a vehicle.
A common type of vehicle financing is dealership financing. In this arrangement, a buyer and a dealership enter into a contract where the buyer agrees to pay the amount financed, plus an agreed-upon finance charge, over a period of time. The dealership may retain the contract, but usually sells it to an assignee (like a bank, finance company or credit union), which services the account and collects the payments.
The Problem for Dealers:
If you want to sell the car and keep the customer for life, you need to make sure your sales staff can make the potential customer feel comfortable and that your dealership is trustworthy. How are you going to do this?
Staying on the same page with your customers requires well-defined actions on the part of the dealership, the GM and the staff. The advice suggested here is intended to put you on the right path for trustworthy customer relations that will last. [Read more]The Article Explaining Vehicle Financing to the Customer appeared first on Automotive Digest.