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Things Car Dealers Should Know About Special Finance Leads

Posted on: December 22nd, 2011 by credit

What Dealers need to know about Leads

Special finance leads are car loan applicants that have bad credit.  Lead generation companies deliver such leads to their clients in a comprehensive list or database.  People with bad credit are mainly those who are victims of massive lay offs and bankruptcies due to the economic recession.

They are also a good market for car dealers as they will always be expecting a call from a sales person anytime soon since the day they applied.  These people badly need a car and are just taking chances despite their bad credit.  Hence, there is a high conversion rate in this type of leads.  However, car dealers should still be careful in purchasing special finance leads.

If a lead provider asks for start up fees, car dealers should be careful.  They should not get into any deal where a lead provider asks for any form of initial payment.  Avoid providers also that urge to take a long term contract.  It is risky to be bonded in a long term contract just to find out in the end that they just gained more profit.  The pricing per lead and the corresponding conversion rate should also be considered.

Car dealers should make sure that the leads they will be purchasing are pre-approved.  This means that just like in any other types of leads, the special finance leads ordered went through a verification and approval system.  This is where the lead provider assesses whether a particular lead is qualified or not according to the dealer’s criteria.  How would car dealers know if a lead provider really does this?  Before signing a contract with a lead provider, they should investigate on this aspect first by asking questions about the details of the process.

Car dealers should also ensure that they would only get quality leads.  Again, before finalizing a deal with a lead provider, car dealers should also ask about the marketing strategies that the lead provider employs.  Marketing strategies or lead generation techniques determine what kind of leads are they attracting to the offer.  Bad leads are usually victims of misleading strategies.  Good leads are those who are really serious in purchasing a car.  People with bad credit are one of those serious ones who badly want to buy a car.

In ensuring the quality of leads, the exclusivity of the lead should also be evaluated.  Car dealers should make sure that the leads were not just resold to them.  They should be new and recent.  If the leads are sold to anyone else already, it cannot be used anymore and it is therefore useless.

Approved Auto Leads make sure that its clients enjoy the exclusivity of their leads, moving quite freely in a less competitive ambiance.  It also does not provide its client with bad leads just to meet the number of leads per order.  Approved Auto Leads ensures top quality even with special finance leads.

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