How to sell more vehicles on finance
Selling more on finance
Here at First Response Finance, one of the most common questions our car finance dealers ask us is "how do I sell more vehicles on finance?".
As each dealership's sales process, advertising, and setup is different, there is no straightforward answer. However, there are a few things that you can do that should have a positive effect on your finance sales.
Is your finance message visible?
A good place to start is to make sure you tell your customers that car finance is something you offer; in person, on the pitch, and in your online adverts. Consider reviewing your website, social media channels, and any other platforms where you list your vehicles for sale, and ensure that your finance messaging is visible, consistent, and meets FCA regulations. The more aware customers are that you offer finance, the more likely they are to apply or ask you questions about it, rather than applying through a lender or broker themselves.
Know where you are now, and where you want to be
Data truly is king, and if you want to increase your finance sales, one of the most important aspects is understanding how many vehicles you are selling on finance now, so you can measure whether any changes you make have any effect. An easy way to do this is to record all your sales and how they were paid for; we recommend recording this information on a spreadsheet. This will give you a good idea of how many finance deals you do and will allow you to set a realistic goal of how many more you want to do.
Tweak and measure
It can be very easy to want to change your adverts very quickly, especially if you don't think you are getting the results that you want straight away. The best advice we would give is to wait and measure results over a few weeks or months. If you change your finance adverts too often, it will make it difficult to know which one has worked.
Keep what works and get rid of what doesn't
After a few months, the finance deals you have recorded should give you a good idea of what works and what doesn't, and data is always better than guesswork. Simply keep what works and change what doesn't. The key to getting more finance deals is to know how many you are doing now, from here you can set a target for how many you want to do in the future. Once you know how many finance deals you are doing, and what has contributed towards selling more, keep running the same adverts until the data you have recorded shows that it is no longer working. It is at this point that we would suggest changing how you advertise finance.
If you tell your customers that you offer finance, measure which adverts work, and make changes based on data, you are a lot more likely to sell more vehicles on finance.
Partner with us
If you want to work with one of the best sub-prime finance companies in the UK, First Response Finance is here for you. Our flexible criteria, award-winning service, and consistent recognition from the industry, we are the go-to sub-prime finance company in the motor trade that you can trust.
Partner with us and experience the difference of working with the best subprime finance lenders, dedicated to helping you and your dealership get more deals over the line. If you don’t currently work with First Response Finance and would like to discuss how we can help you and your sub-prime customers, click the button below fill out the form, and Brad from our team will be in touch to discuss how we can help you sell more cars on finance.
If you would prefer speaking to us directly, give us a call on 01156711755, and ask for Brad.
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