Creating auto sales leads can be difficult, especially if you’re avoiding tapping into subprime auto leads. Many young adults don’t have a great credit score, which is an unfortunate side effect of having no chance to build credit over their time in college, or just not having any credit building assets and debts.
This leaves a large portion of the growing market unavailable to you if you don’t want to tap into the subprime market. Auto financing interest generates $98 billion in revenue annually, and a large part of that is subprime loans.
But if you’re interested in tapping into this market, there are some things you should do in order to successfully generate low credit score auto leads. First, you’re going to have to get used to the idea that you’ll be relying on auto internet leads, with the growing prominence of the Internet in all aspects of life.
- Be Understanding
With low credit score auto leads, you’re going to be speaking with customers who have bad credit. A score of 500 to 600 is considered subprime, while 300 to 500 are deep subprime leads. Customers are looking for someone who will understand their situation, and are still willing to help. Be unbiased, don’t show favoritism towards those with good credit. These customers might feel like they’re being a nuisance, or that you consider them as such. And they might worry about what kind of service they’ll get from you, the auto dealer. Treat everyone with dignity and respect. - Be Honest
Don’t hold back on the details of the situation. Explain exactly what they can expect, and what they can do to get a vehicle at a good rate. They are valued customers like everyone else and should be treated as such. Walk them through the dealership, show them how it all works and be transparent. That shows that you value that customer, and they’ll be more willing and open to working with you because of it. - Give Reassurance
If the customer brings up their financial issues, reassure them that you and they can work out any issues and discuss a solution and options. Respond with confidence. Aim to amaze them at the start, and show just how interested you are in working with them. Good customer service to a client that may have felt like they wouldn’t get it can make a world of difference, and spread a lot of positive reviews.
So if you are looking into working with low credit score auto leads, keep these things in mind. Treat them like a prized customer, like everyone else, and see the dividends pay off in the future.
