Research indicates that millennials show more than ten times greater demand for financing options than previous generations. So, you’re potentially leaving significant money on the table by not having financing options for service repairs. That’s where Confident Financial Solutions comes in.
What does CFS cover?
CFS provides customers with financing options for both necessary and recommended repairs—and covers deductibles between $350 and $7,500, offering simple interest loans with rates as low as 9.99% APR. Loan terms vary between 12 and 36 months, but the first 60 days are interest-free, regardless. That combined with the fast and easy application process makes encouraging customers to finance their service simple. In fact, approval rates are around 50%.
How can Confident Financial Solutions benefit your dealership?
The average RO financed through CFS is $1,550. And by offering customers flexible, affordable financing options, they’re less likely to decline repairs or turn to third-party service providers, meaning you keep more of their business. CFS can also help drive traffic from your website to your Service Department with co-branded financing application links and financing pre-approvals.
Fully integrated with the AutoLoop suites, CFS is a viable option for helping customers service their vehicles. Plus, AutoLoop Essentials™ automatically follows up with any declined services, sending customers triggered notifications with available financing options. That way you can remind them of the services you offer, so they can get the services they need.
For more information on CFS or other AutoLoop solutions, please contact your Performance Manager.
Customer Only | January 10, 2019