Point of sale auto financing arrangements are increasing in popularity among consumers thanks to the added convenience made possible by these lending options. As younger consumers continue to exhibit reluctance to take on large amounts of credit-card debt, the demand for purchase financing options continues to increase. This is especially true in the field of auto lending. By offering prospective car buyers the chance to finance their vehicle when they are ready to purchase, your credit union can earn its fair share of these lending transactions and can diversify its portfolio for greater saturation in the financial marketplace.
Tailored Point of sale Auto Loans
By offering point of sale auto financing solutions in conjunction with local auto dealers, your credit union can present your lending options to consumers already in the frame of mind to purchase. This can allow you to create tailored solutions designed specifically to suit the needs and the parameters set forth by your borrowers. Working with a company that offers full-service indirect loan services can ensure that your lending options are available during all the hours the dealership is open. By opting for full-service point of sale loans from a qualified credit union service organization, you can ensure that you receive your fair share of the auto loan transactions in your service area.
Transparency and Convenience
Point of sale auto financing loans offer optimal transparency for consumers who may be wary of complicated contracts and revolving credit lines. By offering an indirect auto lending solution at the point of sale, your credit union can achieve greater visibility among current and potential customers. This can boost your ability to provide lending options and other services to a wider range of customers, allowing you to deliver greater benefits to your current members.
Enhanced Customer Service
By making your indirect auto lending solutions available to your customers through local auto dealers, you can provide positive incentives for your current credit union clients to choose your organization for their auto loan needs. This can increase the diversification of your loan portfolio and can help you to build a solid reputation for customer service that can enhance your public image in your local community.
At CUAC, we specialize in providing you with the most advanced lending software for credit unions and the practical solutions you need to work with local auto dealers and to provide your customers with the highest degree of service possible. The CUAC team will work with you throughout the process to ensure that you enjoy solutions tailor-made to suit your needs. Give us a call today at 866-970-2822 to discuss your credit union’s indirect lending options in the modern auto financing industry.