Increase in supplier competition is always good for the consumer as he/she gets to enjoy the product at competitive rates. However, this makes the job of choosing a quality supplier that much difficult. The following lines mention some things which can be checked by lending institutions to ensure that a quality auto loan leads supplier is chosen:
Most of the online lead generation portals and agencies include filters in their software which can be customized according to lender preference. These filters screen the leads according to the lender and offer only those lead which can be converted easily. The filters can be to knock out subprime loan applicants, knock out applicants without down payment etc. These can also be used in case the lender caters to only subprime category.
Another thing which should be checked is whether the leads are sent over to the lending institution quickly or not. As dozens of lenders are coveting the same leads, it is best to get a head start otherwise the consumer would have had gotten the finances till the lender gets to track him/her. The provider should use modern and fast measures such as fax, email, informative call or email to send over the leads.
The main criteria on which the choosing of the supplier is done is exclusivity. This means that the lender should check whether the leads are being sold exclusively to the institution or not. However, if the lender wishes to buy cheap and non exclusive leads, then it is best to leave this feature out.
Tags: Auto Loan Leads