Automotive Financing

Written by Jen Nichol
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Automotive financing is undergoing big changes. Traditional finance and insurance models, that placed the finance professional in an antagonistic position versus the client, are falling by the wayside. Newer and better sales techniques are creating better customer relationships and streamlining the finance and insurance process.

Automotive financing is really responding to the modern sales technique of menu selling. Menu selling is a method whereby the dealership offers all products to the customer, all the time, which satisfies legalities and leads to client confidence. When a customer receives consistent financing and sales information from everyone on staff, they will enter the finance and insurance process with ease.

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Traditional automotive financing processes were lengthy and laborious. Often, the finance and insurance process would even drive away prospective clients, which resulted in zero return for all of the dealer's resources that had been used to make that sale. Menu selling takes mere minutes compared to the traditional hours of older finance and insurance methods, which pleases both dealer and client.

Automotive financing needn't be the painful and frustrating process that it was in days of old. Sometimes, customers avoided buying new just to avoid finance and insurance! Newer methods that let the dealer work with the client are resulting in long-term client relationships; a new era of auto financing has begun.

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