An increase in cash buyers means
a decrease in finance cash for your bottom line…
What do you do?
TARGET THE CREDIT CRIMINALS
Just like John Walsh from ‘Americas Most Wanted’, you need to consider making an all-out assault on the bad credit customers in your market. They just want to buy and want someone to tell them they can get them financed, and straighten out whatever situation they are in.
With more new car buyers using cash, because of the cash craze of late where all Americans want more of it under their pillow, you will feel the effects of this if you don’t watch it closely. You can do nothing to stop the increase in cash purchases around your market, other than sell as hard as possible to offer attractive lease and finance options. But there will be some people who just can’t change their mindset.
The Special Credit Customer can help shore up this otherwise loss in revenue. They have no choice and you stand to make much more finance money from them because after all, ‘beggars cant be choosers.’