Archive for November, 2010

Benefits Of Email Marketing In Auto Finance Leads Generation

Tuesday, November 30th, 2010

Email marketing campaigns are great sources of auto finance leads since they are virtually free and do not require much time input. Email campaigns involving using online newsletters that contain information about the company’s products and services and possible offers available. The newsletters are sent to prospects who sign up for them. The following are the advantages of email marketing in car finance lead generation. Read More…

Subprime Auto Finance for Used Cars

Monday, November 29th, 2010

Many individuals with a bad credit score think that there are no lending institutions which will approve them the loan. However, this depends on the credit history, the lender approached and the type of car that the borrower is going to purchase. There are many subprime auto finance providers who approve finances for individuals wishing to buy their own car. But, this fact has to be noted that it will be difficult to get a good rate even after a lot of browsing. The trick to get approved for a manageable loan is to apply for subprime auto finance on used cars. Read More…

The Value of Subprime Auto Loan Leads

Sunday, November 28th, 2010

It is said that the best businessman is one who can turn a profit from a dreadful situation. However, most car loan lenders can do that even if they are not considered best businessmen. After the recent economic depression, the reduction in credit scores of thousands of people reduced a huge number of prospects for banks and popular lending institutions. As their credit score is now in the subprime category, their value as subprime auto loan leads has increased a lot. Read More…

Which Subprime Auto Loan Leads Provider to Chose

Saturday, November 27th, 2010

It is seen that the quality of a certain product is directly related to the genuineness of its provider. Same is the case with subprime auto loan leads. If the lender has browsed and researched well before choosing the supplier of the leads, then he/she can rest assure that the leads would be genuine and provide optimum results. There are several things which can be checked to judge whether the supplier could be trusted or not. Read More…

What Is Subprime Auto Finance?

Friday, November 26th, 2010

After the recent economic depression, most of the businesses around the world took a financial hit. However, the people who were most affected during these times were the employees. Innumerable layoffs, pay cuts and bankruptcies not only destroyed their financial life, it also destroyed their credit score. Now, when the depression has somewhat lifted and they are trying to get back on their feet, it has become quite difficult for them to get approved for auto finance. Seeing this, many lending institutions have started giving out subprime auto finance provisions with which they could buy their personal car. These provisions are for individuals whose credit score comes under the subprime range. Read More…

Using Subprime Auto Loan Leads For Increasing Profits

Thursday, November 25th, 2010

Due to the ongoing economic crisis, it has become difficult for lenders to make enough sales. However, tapping into subprime auto loan leads can ensure that the lending institution would be able to provide enough loans so that the inflow of cash continues. However, there are certain things which should be checked to ensure that the institution gets to earn profits.

One of the main reasons why lenders get a low return on investment when they purchase subprime auto loan leads is because of the startup costs. These costs directly increase the investment of the lender and do nothing for the sales. Moreover, there is no need to deal with a supplier who only provides the leads when startup money is provided. Few suppliers do this and the fees charged don’t do anything for the lender’s bottom line. Some provider might also ask his/her clients to sign or provide assurance that he/she would buy a certain number of leads from the supplier for a certain amount of time. The lender might think that it’s a good idea as the provider is agreeing to provide subprime auto loan leads for the stated time. However, this ploy is just employed by substandard suppliers to increase their profits.

Another thing which has to be ensured is exclusivity. As dozens of lenders look for leads in the same region, it is important that the provider supplies leads which are completely exclusive to the purchaser. Getting exclusive leads ensure that the lender doesn’t need to worry regarding the sales personnel of other lending institutions as none of the others are provided the same information.

Refinancing The Subprime Auto Finance

Wednesday, November 24th, 2010

The one major problem with subprime auto finance provisions is the high interest rate charged from the applicants. Some lenders state that it is important as they wish to get back their money as soon as possible. It is seen that in these cases, the interest rate is lowered when a portion of the loan has been paid. There are some lenders and dealers which charge a higher rate just to earn more money. Whatever the case might be, a high interest rate can be difficult to carry for the rest of the loan term. At this time, the borrower should consider refinancing the subprime auto finance to ensure that the interest rate and monthly installment remains affordable. Read More…

Getting Approved For Subprime Auto Finance

Tuesday, November 23rd, 2010

It can be quite intimidating for individuals with a bad credit score to even apply for a loan application. It is a known belief that almost no lending institution approves loan for a person with inferior credit score. However, this belief isn’t true as there are many lenders who provide subprime auto finance to bad credit borrowers. These lenders specialize in providing money to low score borrowers and they usually approve the loan without any hindrances. But, the interest rate charged by these creditors is higher than the general loans. There are some things which can be done to ensure that the interest rate for the loan remains low: Read More…

Ways to Filter Auto Leads

Monday, November 22nd, 2010

Internet lead providers and listing agencies have made it possible for dealerships to get auto leads without spending much time, energy and, more importantly, money on the marketing and advertisements. These auto leads vary according to the information present in the lead and the time since it was generated. Earlier, the companies used to make lists of all the auto leads that they can procure and then used to sell and/or rent the list to different dealerships. Now, dealers can make accounts on their portals and they would be provided with fresh leads as soon as their roster updates. Read More…

Direct And Indirect Subprime Auto Finance

Sunday, November 21st, 2010

There are different places where an applicant goes to when applying for subprime auto finance – banks, credit unions, car dealerships, used car lots etc. Based on the places where the applicant goes, these loans are divided into direct and indirect. Read More…