For self-employed car buyers, getting approved for auto financing with traditional auto lenders and finance companies can sometimes be more challenging – especially those with bad credit or no credit history. This presents a unique opportunity for your car dealership to offer auto financing that approves everyone, regardless of their employment status or credit history. If your dealership has turned away potential car buyers due to self-employment and/or their credit history, here’s how ..read more

Since first-time car buyers with no credit can have a difficult time getting approved for auto financing, offering subprime financing through your car dealership is an effective way to approve consumers with limited credit history. Many consumers with no credit aren’t fully informed on the car buying process or what steps to take to build their credit history, which can help position your car dealership as a valuable resource to educate car buyers on their financial journey. Here are some ..read more

Since the COVID-19 outbreak in 2020, the auto industry has been pushing to stay afloat amidst the global chip shortage, which has caused a drastic decline in new car inventory ..read more

Offering subprime financing through your car dealership can position you to reach more customers who are unable to get approved for traditional auto financing because of bad credit or no credit. Enrolling in the Credit Acceptance auto finance program gives your dealership the ability to not only approve more customers for financing, but also increase your market share. Here are the benefits of offering subprime financing through the Credit Acceptance program: Gives you the ability to ..read more

We live in a new generation of car buying. With the Internet right at the fingertips of consumers, new and used car shoppers no longer need to fully rely on car salespeople for information on a vehicle they’re interested in purchasing. Because of this, car dealerships must now take a different approach to establishing credibility with potential car buyers. Two words: Active listening. According to John Doerr, president of global sales and training organization RAIN Group, car sales reps ..read more

Getting customers approved for car financing is an important step in the car buying process. Many car dealerships that offer traditional auto financing only approve car buyers who have what most auto lenders and car finance companies consider a positive credit history. On the contrary, car dealerships that offer subprime auto financing can approve car buyers with bad credit or no credit history, opening the door for them to approve more customers. Car dealerships that are enrolled in ..read more

It’s been an interesting couple of years for the global economy due to the COVID-19 pandemic. With the ongoing microchip shortage, the automotive industry has been hit especially hard. While the effects of the pandemic continue to shake the automotive industry, analysts are predicting some positive news for the year ahead, according to Automotive News: New-vehicle inventories will improve slightly as automakers continue in their efforts to secure microchip supplies. North American ..read more

The auto sales market has evolved into a hybrid of in-person car buying and online car sales. According to Deloitte’s 2021 Global Automotive Consumer Study, 71 percent of American car shoppers want to buy their car in person, while a recent Harris poll found that 64 percent of consumers aren’t comfortable buying entirely online. However, both studies also found that there are many parts of the car buying process that consumers prefer to do online, such as completing all their research and ..read more

“How can I make my car dealership more profitable?” This is the question many — if not all — dealers ponder when strategizing ways to reel in more money for their car business. While there are various methods and strategies your dealership can implement to become more profitable, one of the fundamental keys to doing this is increasing your cash flow. Cash flow is an important factor when measuring your dealership’s financial performance. While positive cash flow indicates a company has ..read more

While 2020 and 2021 witnessed a sharp decline in car sales resulting from the pandemic, the auto industry appears to be on a steady rise, with new car sales expected to rise to 15.47 million vehicles from an estimated 15.07 million in 2021. According to Kelley Blue Book, trucks and SUVs picked up market shares with a year-over-year increase in average transaction prices at 1.5%, and the top-selling SUVs of 2021 included Toyota RAV4, Honda CR-V, Nissan Rogue, and Toyota Highlander ..read more