53 min
From Lead to Loyalty: Harnessing Special Finance Strategies to Maximize Sales Profit and Customer Satisfaction Millionaire Car Salesman Podcast
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- Entrepreneurship
In this thought-provoking episode of the Millionaire Car Salesman podcast, Sean V. Bradley, President of Dealer Synergy, engages in a compelling conversation with Ken Hill from 700 Credit—a platform integral to the financing function at automotive dealerships. The talk delves deep into the nuances of car sales, credit reports, and the evolution of customer financing, especially within the subprime market.
Ken opens up about his extensive background in credit, setting the stage for a rich discussion on the importance of understanding a customer's financing situation early in the sales process. They dissect the traditional pitfalls of special finance, emphasizing empathy and addressing the stigmatization often associated with bad credit customers. The dialogue gravitates toward the game-changing potential of soft credit pulls, which do not affect a customer's credit score—paving the way for a smoother sales experience and establishing better-informed customer relationships.
Don’t miss this informative conversation with Ken Hill, where he shares his personal experience with credit challenges and emphasizes the need for empathy in the industry. Gain valuable insights into the benefits of soft credit pulls and how they can alleviate consumer concerns about impacting their credit score. Learn how to implement soft credit pull technology in your dealership and maximize its potential for better customer relationships and sales success.
Key Takeaways
Soft credit pulls do not negatively impact the consumer's credit score and offer a competitive edge by ensuring accurate payment quotes and lender alignment.
Special finance customers require empathetic handling and a focus on approval first, rather than vehicle selection, to ensure a smoother sales process.
Dealerships should not shy away from adopting soft pull technology due to perceived costs, as it aids in effective conversation and reduces friction in the finance office.
Utilization of AI in chat interfaces can significantly enhance the quantity and quality of pre-qualified leads received by a dealership.
Including soft pull capabilities in the dealership's digital retailing experience can drastically improve both customer satisfaction and the efficiency of the sales process.
About Ken Hill
With nearly 30 years in the credit industry, Ken Hill brings a wealth of experience and expertise. He began his career when credit checks were required for purchasing cell phones and transitioned into the automotive sector about 20 years ago. This shift allowed him to specialize and develop products tailored to the unique needs of the automotive industry, particularly focusing on compliant solutions.
At 700Credit, Ken manages the business development, sales, and support teams. He is backed by an exceptional team with extensive automotive and industry experience, collectively exceeding 100 years. Ken's leadership and dedication to the industry continue to drive innovation and excellence at 700Credit. He remains passionate and excited about the future, continually striving to enhance and refine credit solutions in the automotive world.
About 700Credit
700Credit is the automotive industry’s leading provider of credit reports, compliance solutions, soft pull products, identity & fraud verification, synthetic fraud detection and driver’s license/facial recognition authentication platforms. 700Credit has over 21,000 dealers today in Automotive, RV, Power Sports and Marine. 700Credit is the integration leader with over 200 software partners with direct integrations for easier dealer access. For more information about 700Credit, visit www.700credit.com.
Resources
Dealer Synergy & Bradley On Demand: The automotive industry’s #1 training, tracking, testing, and certification platform and consulting & accountability firm.
The Millionaire Car Salesman Podcast: is the #1 resource for automotive sales professionals, managers, and owners. Also, join Th
In this thought-provoking episode of the Millionaire Car Salesman podcast, Sean V. Bradley, President of Dealer Synergy, engages in a compelling conversation with Ken Hill from 700 Credit—a platform integral to the financing function at automotive dealerships. The talk delves deep into the nuances of car sales, credit reports, and the evolution of customer financing, especially within the subprime market.
Ken opens up about his extensive background in credit, setting the stage for a rich discussion on the importance of understanding a customer's financing situation early in the sales process. They dissect the traditional pitfalls of special finance, emphasizing empathy and addressing the stigmatization often associated with bad credit customers. The dialogue gravitates toward the game-changing potential of soft credit pulls, which do not affect a customer's credit score—paving the way for a smoother sales experience and establishing better-informed customer relationships.
Don’t miss this informative conversation with Ken Hill, where he shares his personal experience with credit challenges and emphasizes the need for empathy in the industry. Gain valuable insights into the benefits of soft credit pulls and how they can alleviate consumer concerns about impacting their credit score. Learn how to implement soft credit pull technology in your dealership and maximize its potential for better customer relationships and sales success.
Key Takeaways
Soft credit pulls do not negatively impact the consumer's credit score and offer a competitive edge by ensuring accurate payment quotes and lender alignment.
Special finance customers require empathetic handling and a focus on approval first, rather than vehicle selection, to ensure a smoother sales process.
Dealerships should not shy away from adopting soft pull technology due to perceived costs, as it aids in effective conversation and reduces friction in the finance office.
Utilization of AI in chat interfaces can significantly enhance the quantity and quality of pre-qualified leads received by a dealership.
Including soft pull capabilities in the dealership's digital retailing experience can drastically improve both customer satisfaction and the efficiency of the sales process.
About Ken Hill
With nearly 30 years in the credit industry, Ken Hill brings a wealth of experience and expertise. He began his career when credit checks were required for purchasing cell phones and transitioned into the automotive sector about 20 years ago. This shift allowed him to specialize and develop products tailored to the unique needs of the automotive industry, particularly focusing on compliant solutions.
At 700Credit, Ken manages the business development, sales, and support teams. He is backed by an exceptional team with extensive automotive and industry experience, collectively exceeding 100 years. Ken's leadership and dedication to the industry continue to drive innovation and excellence at 700Credit. He remains passionate and excited about the future, continually striving to enhance and refine credit solutions in the automotive world.
About 700Credit
700Credit is the automotive industry’s leading provider of credit reports, compliance solutions, soft pull products, identity & fraud verification, synthetic fraud detection and driver’s license/facial recognition authentication platforms. 700Credit has over 21,000 dealers today in Automotive, RV, Power Sports and Marine. 700Credit is the integration leader with over 200 software partners with direct integrations for easier dealer access. For more information about 700Credit, visit www.700credit.com.
Resources
Dealer Synergy & Bradley On Demand: The automotive industry’s #1 training, tracking, testing, and certification platform and consulting & accountability firm.
The Millionaire Car Salesman Podcast: is the #1 resource for automotive sales professionals, managers, and owners. Also, join Th
53 min