Too often, we make the mistake of judging customers solely on their credit history when offering financing for major purchases. At Reliable Auto Finance, we know that people are worth much more than the numbers on their credit reports. Just because someone missed a few bills in the past doesn’t mean they can’t be responsible and capable enough to take on an auto loan.
As dealerships across the country wake up to this reality, they’re using subprime loans to help lift the auto industry out of recession, and getting more drivers on the road with new cars. These new car owners can be proud of their investment, working hard to pay their bills on time and improve their standing in the eyes of financial institutions.
Maybe it’s a husband and father who lost his job and was forced to start from scratch, or an individual who took out lines of credit in a desperate attempt to keep up with a rising stack of medical bills. Maybe it’s a young person who made some poor choices, but has now grown into a hardworking and responsible adult. These people should have a chance to prove their worth when it comes to securing a loan and taking care of an automobile.
There’s a good chance that your subprime customers have a solid work history, showing up every day in an honest effort to make ends meet at their own households. They could play an important role in their communities, making connections and building relationships to improve their surrounding environment. Most of all, if they’re at your dealership, they most certainly have some amount of cash flow coming in that they’re looking to direct towards a new automobile.
At Reliable Auto Finance, we know that while your car dealership desires customers with the character and integrity to uphold their financial commitment, you still need the dollars and cents to add up. We’re here to remind you that these two goals are not mutually exclusive.
Plenty of customers with an imperfect credit score have the willpower and available resources to own a car. It’s up to you to afford them this responsibility, giving them the opportunity to begin rebuilding their credit history, and selling more cars to responsible owners in the process.