Dealership Credit Program
Welcome to the Hillcrest Financial’s Car Dealer Program. Our goal is to help car dealers increase their overall sales volume. According to www.autodealermonthly.com, we have national dealer stats stating that car dealerships spends an average of $35,000 per month or roughly $600-$650 per vehicle in advertising. Sadly, over 56.7% of car dealerships customers are denied a loan due to credit challenges. Nationally, every client has different a credit profile and various financial standings when it comes to qualifying for a auto loan. On an average, most dealerships earns roughly $2,000 – $2,500 profit on each unit sold, with or without manufacture incentives for sales goals reached by the dealership. Here at Hillcrest Financial, we have a plan to help dealerships increase their overall sales performance.
Understandably, most dealerships will have to increase the amount of money they spend on advertising in order to increase sales. However, those same dollars spent on advertising could be better spent on the caliber of customer submitted for banks approval. Dealerships do not have to spend more on marketing, but spend less dollars with Hillcrest Financial by improving the scores of those clients’ who were denied loans. Dealerships who utilize our services can keep those same customers who were previously denied a loan, allow us to improve their credit scores, and position those same customers for a loan re-submission with their improved scores. Most re-submissions for bank approval can be done within 45-60 days.
No matter how you slice it, there are no other options to increase sales, without having to drastically increase your advertising expense. It doesn’t matter what type of advertising campaigns your choose, whether by Facebook, PPC, TV or Radio, it won’t increase sales like we will here at Hillcrest Financial. Therefore, the smartest and most cost effective program to use is to keep those same clients that have already come through the dealerships doors. You have already paid for the traffic and sold them on a vehicle, so you might as well close these customers on our program instead of letting them walk.
Hillcrest Financial offers each dealership our credit program, which should be advertised as a “free” service to the dealership’s customer (huge client response). The program is ran, staffed, and completely serviced by us. We provide each dealership and customer direct access to our software for 24/7 tracking. All we need is those credit turn downs inserted into our software program. We will provide each dealership’s finance manager an account manager and secure access to our system, and best of all…we’ll do all of the work!!!
Our software allows you the ability to track the status of your clients that are in our system, with bank rated security features. We do all of the customer contacting, administrative processing and customer service related work for your customers. Our goal is to keep your credit denied clients in house, turn those clients into credit worthy clients and increase your revenues. Our mission is to get those client’s credit ready and sent back to the dealer for their auto purchases. It’s that simple. Once we know the client is credit qualified for their auto purchase, our rep will contact either the Finance Manager, Sales Manager or dedicated person at the dealership to let them know that the client is good to go. At that point, the salesman/saleswoman or Sales Manager will contact the client to schedule the appointment to come back into the dealership.
We are here to help you increase sales. Period. We already have a proven system that is ready to help. Our same method has worked in the Real Estate, Watercraft, Motorcycle, and the Equipment Leasing and Finance Industries. Our typical credit update cycle is 45 – 60 days. Meaning, once your client is in our system and processed, in as little 45 days they should be ready to purchase. All clients receive one round of disputes to help increase their scores. If one round will not do, we’ll extend it one more update round. (Another 45 days if needed). As mentioned before, we will offer the back end support for your dealership. We have the staff and we have the software to do it.
Now, for our numbers. Which is what this is about at the end of the day.
Our no nonsense approach to pricing offers great cost advantages for our dealerships. For one dealership location, our dealership price is $15,000 per month for unlimited submissions to our program, That’s it! We restrict dealerships from padding multiple locations under our one location fee unless agreed to prior to commencing services. If you own multiple locations, we offer discount service pricing for 3-5 or more locations, just contact us and let us know. Our competitors charge upwards of $40,000 per month for 250+ submissions per month. Understandably it’s worth the expense to realize $500,000 or more in revenue.
Let’s take a closer look at our program…say your dealership sells 300 units a month. We know throughout the course of the month, at least 170 customers or more have been declined. We’ll take those 170 clients, sign up 90 of them, which is low, but we’ll play it conservative. You are looking at another 90 units a month coming back and purchasing, that’s an additional $210,000 (90 units x’s $2500 per unit, less our $15,000 service fee) dealer profit after our fee has been subtracted. Either way, we know we can increase sales 35-45% per month. Remember, if your profits are $2,000 – $2,500, after 6 clients, the program has already paid for itself. Therefore, the other 84 clients out of the original 90 we signed up is ALL PROFIT! What is crazy about our program is we bill the dealership AFTER the work is completed!
How It Works:
- Dealer submits first client information
- We contact your customer
- We work through the credit analysis of your customer’s credit file with the customer
- We educate your customer on the process of credit restoration
- We will send out first round of disputes
- We submit invoices to dealership on the first of every month
- First invoice is submitted a full 30 days after your first client is submitted. For example, if the first client is submitted to us on the 10th of April, the invoice is not generated until June 1st for $15,000, and the first of every month thereafter.
- Client obtains credit ready status
- We contact the dealership’s Finance/Sales Manager and provide client status
- Dealership contacts customer for appointment for client purchase.
- Customer’s whose credit profile requires more work than the allotted two rounds of disputes are not charged to the dealership account. Customer’s can choose to continue with our service at the rate of $99 per month.
We aren’t asking you to pay an employee to manage our system. We will provide everything for you. Plus, as mentioned above, you’ll be able to track your clients too. Our only requirement is that in order to keep within the law, the dealerships must not pack credit repair fees into the customer’s loan, that just keeps us all honest and out of hot water. See why here—> “Don’t Do It.” If we build a great relationship with our clients, they will keep coming back because you served them and truly cared about their financial future.
We have a secondary program which is to pay the dealership for referrals. For each client we sign up through the dealerships referral, we pay $50.
Again, Our Dealership Credit Program Pricing
We have two options here:
- We can pay your dealership a referral fee of $50.00 for each client you send us that signs up for our service to repair their credit. The client then pays us to have us work on getting their scores up high enough so they can qualify to buy your vehicle.
- We can invoice the dealership directly based on unlimited submissions per month, either way you choose its a win for you!
- Dedicated Account Manager
- Secure Access to our Software for 24/7 Tracking of your customers
- Monthly Billing done only after the work has been completed
- Detailed billing for each customer submitted
- First Month is delayed invoicing