Car Finance Market on the Increase

 

Car Finance Market on the Increase

Recent studies have shown that car financing is on the increase – around 80% of all new car sales are financed by one of the many options, but PCP is the option of choice – it’s estimated that 75% of all UK car sales have been financed with PCP.

PCP financing could have a potential impact on your dealership; with no upfront deposit, low monthly payments and a balloon payment at the end of the contract, money is coming in at the end of the contract, rather than the beginning.

It really depends on how your financing works as to whether you’re feeling the pinch, but it may not be all doom and gloom.

Finance-vs-Sales

Consumer car finance saw a 13% growth in February 2018 (opposed to Feb ’17), which of course means that sales numbers must be on the up also (given that car prices haven’t raised by the same amount), so how can you capitalise on that?

Marketing campaigns are all well and good, but only when done correctly – sending a personalised letter to existing customers usually sees a 16 – 24% return in inquiries (can your dealership handle that influx?) but the most beneficial route by far is a personalised telephone call, the problem is, many sales departments don’t have spare capacity to spend hours each day reaching out to warm leads.

And you can’t outsource your calling because you don’t just want a monotone, scripted ‘sales pitch’ to your customer.

BDM Talk

For many people, the words ‘call centre’ conjure up that exact image – someone reading from the script, who clearly knows nothing about the product, service or brand values, and doesn’t really mind whether the consumer listens or not – they’ve made the call, and that’s good enough.

We at BDM Talk are different – we DO care that your customer receives benefit from the call, just as we know your values, your products and services, and because we’re automotive industry professionals, we understand your customers; we talk to thousands of the car buying public every day, we know your customers better than you.

Our specialist automotive teams are an extension of your own team; professional, knowledgeable and personal, better yet, you can work with them exactly as you would your own team – direct interaction and team management as you need to.

If you’re falling behind the big push for sales, service bookings or aftersales care due to lack of resource, you need BDM Talk – contact us today to discuss your requirements.