Are you a buy here pay here (BHPH) dealership hoping to grow your enterprise? No need to go further—using a related financing company (RFC) can be the critical component you’ve been lacking So, car lots buy here pay here will explain it to you.
Using an RFC will, first and foremost, significantly improve your approval rate. This makes it simpler for you to approve more customers for a car loan because these businesses specialize in working with customers who might have less-than-perfect credit. And let’s face it, we all know that a satisfied consumer will return.
Utilizing an RFC can also help you save more time, which is a benefit. You can concentrate on what you do best—selling cars—by delegating the financing to an RFC. Who doesn’t appreciate having additional time to do the things they enjoy?
However, let’s pay attention to the financial aspect of things. Profits from your dealership can also be raised by using an RFC. In addition, you will have a competitive advantage over other BHPH dealerships because of RFCs’ specialized underwriting and risk management experience, frequently enabling them to provide more appealing financing rates and terms.
Furthermore, many RFCs provide other services like collections, which can be a tremendous relief for dealerships. As the RFC manages the less enjoyable tasks, such as ensuring payments are made on time, it enables them to concentrate on selling automobiles.
Finally, by enhancing approval rates, saving time, and boosting revenues, working with a related finance business (RFC) can be quite advantageous for a BHPH dealership. An RFC’s specialist services can increase sales at your dealership and guarantee that customers leave the lot satisfied and on time with their payments. Therefore, if you’re trying to get your BHPH business moving, consider collaborating with an RFC because it could be the vehicle you need to get there.