Car Business Finance 101
Accuracy – CSI or Customer Service Index is very important when trying to retain your customers. There’s nothing worst than having to call your customer back and ask them to bring more information after they already believe they are done with the transaction. Here are 3 ways you can keep your customers from hating you by remembering to do these 3 things.
- Who is the buyer
- This is very important to tell the banks who will be the primary driver. A “Straw Purchase” happens when you list someone who will not be the primary driver as the primary driver on an application. Most lenders will not fund a straw purchase.
2. Complete information – there is a credit score and then there is the banks internal score that is based on how much complete information there is on an application.
- Ask the customer when their start date of their employment began.
- What was the date the customer moved into their home?
- Are you hourly or salary?
- What is your hourly rate?
- Make sure you have a minimum of 5-year job history and living history.
3. Current documents
- Double check your drivers license, and insurance isn’t expired.
Follow these basic steps and you’ll minimize your dealers held contracts and get the money faster.