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Posts Tagged ‘subprime lead’

All About Subprime Leads

Posted on: February 10th, 2012 by credit

People interested in buying a car would often browse the Internet for available and possible loan offers.  However, car dealers may sometimes find these prospects as insufficient in meeting their sales quota.  They would then have to be open to other possible prospects–interested car buyers with subprime credit.

These buyers are interested in purchasing a car.  However, because of their less than perfect credit, they are having a difficulty in finding a good auto loan offer that is affordable to suffice for their car purchase.  Car dealers should be on a look out for these kinds of leads.  Subprime leads are seriously interested in buying a car.  This also implies that they are already waiting for a response once they dropped their information in.

Car dealers can purchase subprime leads from lead companies like Approved Auto Leads.  It is also possible to purchase from banks, credit unions and even from other car dealerships.  These are usually loan applications that were not able to pass the loan company’s criteria.  Car dealers can also search for this type of leads from online loan companies.

In purchasing subprime car leads, car dealers should make sure that they have spent time doing some research on subprime leads and the possible sources from which they can be obtained.  Just like with any other types of leads, these leads also vary in prices and conversion rates.  Car dealers can compare the prices and conversion rates from various lead companies to come up with a good decision.  Cheap leads are not necessarily good buys, neither they can be considered as substandard buys.  The case is also true with expensive leads.  Not all expensive leads are just abusive pricing, neither do they guarantee high conversion rate.  It really takes some wit and wisdom for car dealers to determine which deal is the best one.

Another thing that car dealers should consider in purchasing a subprime auto lead is the exclusivity of the leads.  It is useless if the lead company would also sell the same lead to other car dealers.  Car dealers then should make sure that a lead company do not sell the same leads sold to them to other dealers nor resell the leads to them.  There is also no point if the lead is just a resale.  The deal might be closed already or the prospective car buyer is not interested anymore.

Although there is risk in dealing with subprime car buyers, purchasing subprime leads can greatly help car dealers in meeting their sales quota.  Moreover, these leads are really interested in buying a car despite their damaged credit.  This implies that they even have higher conversion rates, by estimate, than regular car leads have.  They are more likely to entertain the car sales representative’s call and listen to what he or she has to offer.  Aside from that, car dealers are able to give hope to these interested car buyers.  Because of their subprime credit, they find it hard to get approved in car loans.  If car dealers would entertain subprime car leads, not only do they give hope to these people but they are also able to open more access to subprime auto leads.

 

Quality Subprime Leads – What Car Dealers Need to Increase Sales

Posted on: January 8th, 2012 by credit

In a time when car buyers are no longer flocking to car dealerships, the automotive industry is relying on auto lead generation to boost their sales.  By obtaining auto leads, car dealers find out which individuals are truly interested in buying a car and getting financing for it.  Auto lead generation companies employ a number of techniques to locate prospective car buyers and get their information, and these are either sold or leased to car dealers.  These days, auto leads are what keeps car dealerships in business, especially because traditional marketing and advertising methods are no longer effective.

If there is one type of auto lead that car dealerships should acquire to make sales, it would be subprime leads.  A subprime lead is an individual who is interested to buy a vehicle and get financing to make a purchase.  What sets this type of lead apart from regular auto leads is that this customer has bad or poor credit.  He or she may have applied for a regular auto loan from lending institutions like banks and credit unions, but was turned down because of his or her credit standing.  Traditional lenders like the aforementioned do not grant auto financing to credit-challenged individuals because they are considered high risk.

It would be beneficial for car dealers to obtain subprime leads because these can truly increase their profit.  These customers can help any dealer take cars off their lot.  They may have been denied financing by traditional lenders, but they can obtain financing elsewhere, such as online lending companies that specialize in subprime auto loans.  Right now, more and more people are becoming credit-challenged, mainly because of the weak economy.  Hence, car dealers would be missing out on a huge number of potential customers if they do not avail of subprime auto leads.

It is important for car dealers to know that it is simply not enough to have subprime leads to enjoy a boost in sales.  The leads acquired must be quality leads: they should be genuine, updated and exclusive.  Used, recycled and old leads would be useless to a dealer because these would not result in a sale.  Buying such leads would only be a waste of money.  Thus, it is very important to find a subprime lead generation company that offers only quality leads, a firm that will guarantee the increase in sales that every car dealer desires. 

One lead generation company that car dealers can choose is Approved Auto Leads.  The company has been providing car dealers with real time subprime leads for more than a decade.  The subprime auto leads that Approved Auto Leads offer really sell cars for the client car dealer.  With this lead generation company’s services, a car dealership can be more profitable despite the economic downturn.

 
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