The Importance of Attractive Finance Packages for Maintaining New Car Sales Buoyancy
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Whether you are selling used cars or brand new, it can be a difficult task to meet sales targets in the current economic climate.
Fewer people have the money to splash out on a car without seriously considering the matter and an increasing number are forced to rely on finance in order to afford it. This is particularly true in the market for brand new cars where prices are typically higher.
As a dealer, you need to make it as easy and hassle-free for customers as possible, and that means taking away the stress of the purchase. While it's entirely possible to obtain finance elsewhere, the process can leave time for the customer to start doubting their decision which could even result in them backing out of the sale.
We take a look at why attractive finance packages are so important and how they are used to maintain new car sales buoyancy.
Making it affordable
For many people the need for a new car is not in question, it's the matter of affordability which is the deciding factor.
When the customers arrive in the showroom they may have no intention of purchasing, simply because they know the car they want is out of reach. However, once they see a vehicle they like, they may be far more willing to consider payment methods such as finance in order to get the vehicle.
Showing repayment rates early on can help the customer understand how much it is likely to cost in real terms. For many the APR is something they notice and compare, but few understand how this translates to the actual amount that needs to be paid.
Having attractive finance can make a brand new car affordable and could help persuade those who had previously thought a purchase was out of reach change their mind.
Removing the delay
Buying a car is a big decision and quite rightly, it's not one to be taken lightly. But having made the decision to purchase a car, if you have to wait for some time before you can pick it up, it's easy to wonder whether you have made the right choice.
The similar principle applies to buying a new car; a buyer might be certain that the latest model is perfect for what they need, but once they have the chance to think about it, the may conclude that it's not really for them.
An attractive finance package helps to not only make a car more accessible, but it also means you won't have to run the risk of the customer changing their mind by sourcing finance elsewhere. Convenience counts for a lot when it comes to sales, and being able to go ahead with the purchase there and then could be the difference between success and failure.
Making the process stress-free
Many customers want to walk into a car showroom and drive away with their new vehicle; having to wait days for finance applications to be approved or red tape to be signed off could lead to them finding what they want elsewhere.
An attractive finance package could make the whole process smooth and hassle-free, removing the stress from the car buying experience and helping the buyer to walk through the purchase with as least stress and hassle as possible.
The used car market is offering such a wide range of models at competitive prices that buying a brand new car can seem like a poor financial choice. However, a car which is brand new has lots of benefits, and customers will love the thrill of knowing no-one else has ever owned the vehicle.
Attractive finance packages can help make the purchase a far more obvious choice, eliminating concerns over affordability, and providing the customer with their new car as quickly as possible.