Used car sales account for a large percentage of gross profits for many dealerships, and subprime loans now make up 16% of all auto loans issued — and this percentage is rising fast. That’s a serious amount of market share going to subprime lending! Even better, subprime auto loans can help subprime buyers re-establish their credit and often, their lives.
Reports of increasing subprime auto defaults mean it’s more crucial than ever to be selective with serving used car leads with the right subprime inventories to attract the right customers. When selecting used car leads it’s important to look at national and local used car sales trends, and adjusting your inventory on a locally based approach first.
For example, the Kia Forte might look desirable when shopping inventory to serve your subprime car leads…
…but not so if you’re in Phoenix, a location where the Forte doesn’t crack the top 15 of top subprime inventory:
Targeting your inventory locally is beneficial to every party involved. So how do you take advantage? Let the subprime car sales experts at CarsDirect and Auto Credit Express help. Get charts and data on which models are being bought by subprime buyers in your area, and buy used car leads revolving around those makes and models – all from one vendor!
Even better, CarsDirect offers a full suite of products in addition to Special Finance — including New Car Leads, Used Car Leads, and innovative Display Advertising and Mobile solutions. We encourage you to explore this website to learn about how our award-winning products can help you move more units.