One of the issues with getting a car loan over the past few years is that customers have become painfully aware of how credit inquiries can affect their scores. Credit scores have become such prized items now, especially after the damage wrought by the recession, that people do not want to see any more inquiries than they have to. That can make people wary of looking for cars that require a loan. However, if you can offer them the option to run the credit check themselves, you can help convert these searchers to happy car owners.
More Customer Control Over Credit Checks
If the customer controls when the credit check is done, it can seem like less of a random event that messes with their credit score. Unfortunately, there have been dealerships that, when running credit reports, would run them multiple times. Even if all of those inquiries are treated as a single inquiry for scoring purposes, they can still make the customer angry. Putting the power to initiate the inquiry into the customer's hands can give the customer a feeling of control, reducing the shock of seeing a credit inquiry.
One of the painful aspects of car shopping is that pre-qualifying for a loan often means going from bank to bank to credit union, looking for a loan. An additional risk for you is that the customer might happen upon a credit union that will not only fund the loan but that also has their own car-buying program that excludes your dealership. But if you can connect lead generation software to your site, then the customer doesn't have to go anywhere. It's more convenient for the customer to simply check for pre-approval while on your website rather than checking with a separate bank first.
Easier Integration With Your System
If the customer can check for pre-approval on your website, then the resulting loan approval will be easier to integrate with your financial system. You're not going to have to cash checks from other banks or hope that your computers and the bank's computers decide to work together without a glitch.
If you can make it easier for the customer to get approved for a loan for a car at your dealership, you increase the chances of the customer actually taking that opportunity. Lead generation software serves as the bridge between you and the customer's desire for a new car. Contact a company like NCC Direct, Inc. for more info.