Capital Solutions
Deal Of The Week
Customer wanted $25,000, gets $50,000
The Problem: Dealer Submits A Customer On A $25,000 Deal. We End Up Approving Him for $50,000!
Most dealers wish they had this problem. The dealer knew the customer had additional collateral to qualify for our program. The "problem" was he didn't wait to hear from us how much we could do. So he pre-sold the customer a $25,000 truck. Here's a better way to do it:
- Once you know the customer has additional collateral, send us the deal with the customers name and phone number
- We can than determine exacting how much we can approve the customer for
- This way you can maximize how much of a truck you can sell him while protecting yourself from showing trucks that are too expensive
It's always a good idea to know how much your customer can qualify for. In this case the dealer left money on the table so to speak.
The Solution: Get The Customer Pre-Approved So You Know What To Sell Them
As stated above it's a good idea to get our approval as soon as possible so we know what the customer can buy. As it turned out the dealer was able to show the customer newer trucks and ended up selling him a truck for $37,500.00. Here's more ideas:
- If you know you have a customer with bad credit the first question you must ask him is does he have any additional collateral
- If the answer is yes than send the deal over to us. We can pre-qualify him over the phone and have a hard approval within about 24 hours
- This way you know the maximum the customer can buy
Working the deal backwards like this can save you a lot of frustration and in some cases like this one can actually increase the sale.
Your success is our success. If your looking for commercial truck financing give us a call.