Since the rise in subprime auto loans, some dealerships simply aim to get cars off the lot instead of helping their customer make the best purchase for their situation.
Although customers don’t always think about it this way, every market participates in a battle for a customer’s attention – and money. Nothing is more eye-catching than a dealership that will approve buyers with bad credit without flinching. Because of this, more and more “Buy Here, Pay Here” dealerships are targeting buyers with bad credit. As a result, many individuals with poor credit are agreeing to high interest rate loans from a less-than-reputable dealership.
DriveTime Combats Consumer Fears
With auto dealerships competing for business and subprime loans on the rise, consumers with poor credit are left fearing that a reasonable car purchase is out of reach.
When planning a visit to the dealership, customers with poor credit dread what might lurk in their history during the financing process. Fortunately, trusted dealerships, like DriveTime, are taking steps to alleviate your fears. Take a look at what DriveTime is doing to help clean up the used car auto industry:
- Transparency. Unlike some dealerships, DriveTime aims to be transparent with customers about pricing. This enables customers to make informed decisions about their vehicle purchase and understand exactly what they’re purchasing. Armed with this information, customers are more confident with their decisions and are better prepared to commit to the purchase for the length of a loan.
- Customer-focused. DriveTime’s approach to car sales is refreshingly customer-focused. While some dealerships are solely concerned with a signed loan agreement, DriveTime’s philosophy has always been to help customers make the best decisions – regardless of whether or not DriveTime benefits from the customer’s choice.
- Online car shopping. Furthermore, DriveTime has taken steps to put the purchasing power back in the hands of customers. With their online inventory and quick approval process, shoppers can now complete a thorough inventory search, receive a 2-minute online financing approval and initiate the purchase process from the comfort of their home.