PassTime Partner, AFS Dealers, outlined in a free webinar the steps that BHPH / LHPH (buy here pay here / lease here pay here) Dealers can take among this rapidly changing environment regarding their operations in the subprime auto finance market.
Some key points from the webinar include:
Sales
Dealers who are open should look at "virtual contact" and bolster their online presence. Evaluate and update:
Website
Vehicle Images - makes sure you have plenty and high quality
Good vehicle descriptions
Implement online/phone applications and verification processes
Test Drives
If still able to offer test drives, make sure to thoroughly disinfect the vehicle prior to test drive by wiping down all surfaces while the customer is there, able to watch.
Implement test drives "By Appointment Only"
Collections
With the millions of job losses nationwide, consumers may have a difficult time with payments. Make contact and communication a priority!
Gather information from your customers to see if they are still employed, or need to work out a new payment program that works for them.
Make payments easy! - for those who are able to continue working and making payments, include phone and online payment options.
For a "contact-less" test drive option, check out Encore, the self-powered GPS device with no installation required.
