A lot of money can be made in the auto dealership business. However, it requires good marketing and the ability to sell vehicles to interested parties. It is likely that there are multiple dealerships around your city. You may need to be unique when coming up with ways to obtain enough auto leads to be profitable. There are many ways that you can reach out to the residents of your city, ensuring that they come to your dealership when they are ready to purchase a new or used vehicle.
Be competitive
Car buyers will come to your dealership if they feel that they are getting a good deal there. Car buyers want to feel like they were able to negotiate for the vehicle they want. The more that you can offer them, the better. Offering good deals and buyer incentives is a great way to bring customers in the door. It is also a great way to obtain new potential customers, as happy ones recommend your dealership to their family, friends, and coworkers. A large percentage of automotive leads come from friends of existing customers.
Advertise inventory online
The internet is an important tool in shopping for anything today. Most car buyers begin their car buying process on the internet. They may be looking for specific types of vehicles. If they are able to pull up your entire inventory online, they feel less pressured having the ability to view everything before stepping foot into the car dealership. It can also be helpful to advertise price ranges or incentives online, further encouraging them to visit the dealership.
Partner with loan companies.
The average borrower has $17,966 in auto debt. Most car buyers have to take out a loan in order to afford a new or used vehicle from a dealership. It can be helpful to partner with a local loan company or branch. Car loan leads may be sent your way as long as you then refer them to the loan company for financing. Special finance auto leads may also be a great source of car loan leads. Offering a financing tool on your webpage can also bring in additional auto leads.
Offer subprime options
Buyers with less than perfect credit also need vehicles. They may have had some previous financial trouble or they may have some outstanding debt lowering their credit score. Buyers with credit scores of 500 to 500 are considered subprime and those with scores ranging from 300 to 500 are considered deep subprime. The subprime leads can actually be profitable leads. Subprime leads are expecting to pay more for interest and are satisfied to be offered a loan.
Additionally, many subprime leads are in the process of repairing their credit. Purchasing a vehicle is just one of the beginning steps to improvement. That means you can sell your vehicle to this often neglected population, also providing the sub prime auto leads with financing. Car loan interest rates increased from 4.13% in May 2014 to 4.25% in May 2016. Subprime leads may pay even more than that.
Offer loaners Offering a loaner when there is a problem with a car may seem like a small thing, but it is something that customers appreciate. Offering a loaner, even something of minimal value makes the customer feel like you care about their business. They are more likely to use your dealership for any repairs and are also likely to return to your dealership when they need to replace their vehicle.
People will always need vehicles to get from point A to point B. However, some dealerships struggle with business in such a competitive market. A dealership that wants to be successful in the auto dealer leads business needs to be competitive, make viewing of inventory easy, partner with loan companies for easy financing, consider sub prime leads, and offer extras to customers, such as loaner vehicles. Following these suggestions are likely to get you additional customers who are satisfied and willing to recommend your business to others.