The new year is off to a great start, and 2017 is showcasing to be a promising year. As we’re already a month in, it’s essential for dealers and lenders to take a look at their budgets, and try to come up with new ways to boost profitability. It’s an exciting time for some, and a sobering dose of reality for others. Regardless of past successes (and past flops), searching for new ways to be more productive can be incredibly overwhelming. Luckily, it doesn’t have to be.
Here are five quick tips to set your sales soaring this tax season:
- Have the inventory of vehicles on the lot to meet an increase in demand during tax season. Your vehicles should be in good operating condition, cleaned and ready to go.
- Make your sales process customer centric. Whether you’re a one-person show or have many people on your team, your customer service should be in place to serve your customers effectively and with glowing reviews so they tell their friends to visit you as well.
- Smooth out your procedures so you can quickly arrange and secure a down payment, and work up a contract that’s a win for both you and your customers.
- Perform your due diligence. Even though tax season can be hectic, there’s no excuse for cutting corners. Underwrite your deals just as you would any other time of year.
- Verify stipulations and ensure your customers are able to afford the vehicle they’re wanting.
How can you make these steps doable? Let’s talk GoldStar. Goldstar allows you to take full advantage of the tax-season bump in sales, expand your finance offerings to include credit-challenged customers and protect your assets and their bottom lines.
According to Experian, almost a third of Americans have credit scores lower than 601 which places them in the fair to poor credit categories. That’s millions of Americans who have either not built any previous credit or whose credit suffered from lost jobs or other financial strains. With GoldStar, businesses are able to broaden their portfolio by taking on a variety of customers including those first-time buyers as well as consumers who are needing to rebuild their credit.
Goldstar allows you to mitigate business risks while also supplying your local community a means to afford the transportation they need for their daily lives. Plus, with automated payment reminders, you’ll help your lower credit borrowers rebuild their credit scores. GoldStar will save you significant money and time, freeing up funds you can use to increase your inventory and time you can spend with your customers to get them into the right vehicle.
Remember, tax season can be a pivotal revenue generator for your dealership. Don’t wait until the last minute to prepare. Be ahead of your competition and ready for your customers.
Want to learn more about how to prepare for tax season? Contact us today for a free demo.