Five Ways Credit Unions Hold The Key to Dealer Success
The automotive market is ever-changing, with fluctuating interest rates, emerging technologies, and shifting consumer demands. The need for dealers to leverage flexible financing options remains constant. With new vehicle prices averaging $48,000 and used vehicles around $25,000, financing is essential for most buyers.
To thrive, dealerships need strong lender partnerships that offer more than just financing—they need partners that meet evolving buyer expectations, help close more deals, and build lasting relationships. Credit unions are a strategic choice, offering unique advantages that help dealerships navigate market changes to succeed.
Credit Unions & Dealer Success
Credit unions provide local market penetration through deep, established relationships built on trust. They can promote dealers directly to their members, enhancing exposure and building a reputation of reliability. They excel in pre-owned vehicle financing, offering competitive terms that attract budget-conscious buyers.
Going Digital
The digital landscape plays a crucial role in today’s car-buying journey, with 95% of auto shoppers starting online. A web-based inventory marketplace can expand dealers’ reach to thousands of preapproved, in-market customers. Advanced digital solutions can streamline the financing process, making it faster and more efficient for everyone involved.
More Lenders, More Opportunities
Maintaining multiple lender relationships can be challenging, taking up valuable time and resources. Dealers can simplify the lending process by connecting to the largest network of credit unions with one agreement. This increases lending capacity and enhances the buyer experience. Credit unions are often more willing to work with individuals needing unique financing options, ensuring a broader spectrum of buyers can secure financing.
Download the full eBook to learn the five key ways that credit unions offer dealerships the tools and partnerships needed to navigate market changes successfully, enhance their financing strategies, and drive more sales.
