The history of the automobile is entangled with debt. Not many people could afford to buy a car for cash in the early part of the 20th century, any more than they can now. By the year 1919, General Motors established a subsidiary that would finance installment plans. A customer put down a deposit, drove the car home, and then made payments until he paid off the purchase in full. Fast forward to 2017 where most cars are still usually financed and rarely purchased “outright” with cash.
Since the recession, car sales were on the rise all over the country. Dealerships have been reaping the benefits of strong growth in car sales since 2010, and have increased their inventories to keep up with these sales. More people are borrowing money to buy cars, and used car inventories are also on the rise. In the past year however, car sales seem to have peaked and are now on the decline both nationally and locally. To combat slower sales, most car dealerships can boost their business by offering different deals and various traditional financing options to their customers. However, the subprime auto market can help a car dealership to expand their business reach and increase revenue and sales by tapping into an extended customer base.
According to CNBC.com , “Nearly 50 million Americans, including more than 30 million millennials, have poor credit and are considered deep subprime consumers. When you look at the statistics, you can see that this is a large portion of the population that has until recently, been overlooked for potential sales and financing options. Subprime auto loans—which charge higher interest rates to consumers that are considered a high risk – may offer a solution to both the consumer with less than perfect credit, and the dealership with decreasing sales.
When it comes to offering subprime loan for automobiles, what makes this subprime offering different from the one that set off the housing crash? Financial experts believe that because our automobiles are such a lifeline to our financial lives, people will pay their monthly loan bills over almost any other bill. And most Americans just cannot do without access to cars, since public transportation is less than robust, in many areas of the country. Add to that – if your car is repossessed, you can lose your job as a result.
How can your dealership reap the benefits that subprime financing can offer? How can you obtain significant sales leads besides waiting for customers to walk through your doors? Cyberlead can help. Cyberlead is an established, experienced and credible business that generates potential customers for hundreds of auto dealerships throughout the country. Their business objective is to increase sales for dealers that focus on subprime customers.
As a stand-out company in the industry, CyberLead Inc. utilizes a strong network of search engine-optimized domains that provide valuable subprime leads to dealerships. As an added benefit, dealerships may use these vanity domains as part of their advertising campaigns. For over fourteen years, dealerships across the country have trusted Cyberlead to help them expand their customer base and market their business. To start expanding your business reach and increasing your revenue contact the experts at Cyberlead at 1-866-311-5323 or visit www.cyberleadinc.com.
