The Lot Blog

How Car Dealers Can Approve Customers with Bad Credit or No Credit
Oftentimes, credit-challenged car buyers have a hard time getting approved for financing because of their poor credit history. Given the fact that many car dealers offer vehicle financing that primarily caters to prime and super prime car buyers, there are many consumers that...
How to Help First-Time Car Buyers Purchase a Vehicle
When it comes to auto financing and/or purchasing a vehicle, many first-time car buyers—a majority of whom include Generation Z and younger millennials —don’t know what to expect....
How Independent Dealers Can Grow Their Car Business
When it comes to running a used-car business, independent car dealers usually have two things in mind: 1) having sufficient capital and access to quality inventory, and 2) selling more cars to grow their business. Having a strong web presence, mobile technology,...
Car Buying Trends for Gen Z
With the rise of online shopping and the influence of web and social media on the car-buying process, it’s easy to think that younger, tech-savvy generations are more inclined to shop for and even purchase their vehicles online. While that assumption isn’t far-fetched, a recent...
What Franchise Dealers Should Know about Subprime Financing
While offering subprime auto financing may not seem necessary for your franchise car dealership, it can mean more for your car sales than you may give it credit for—pun fully intended. If your dealership currently does not offer subprime financing, you’re...
Car Buying Trends for Families
Between April 24 and May 1, 2019, Cars.com surveyed more than a thousand current and expecting mothers about their top needs and concerns when shopping for the
What BHPH Dealers Should Know About Subprime Financing
If you’re a Buy Here Pay Here car dealer, chances are you already offer your own, in-house vehicle financing to car buyers with bad credit or no credit. If this is the case, you may not see the benefit in working with subprime lenders or finance companies....
Car Buying Trends for Millennials
Millennials (people born from 1981-1996) are an important car-buying generation for today’s car dealers. According to an article by Max Digital, 34 percent of millennials intend to purchase a vehicle in the next 12 months, and this trend will continue as they grow their ...
How Subprime Financing Can Help You Grow Your Car Business 
There is a significant number of car buyers who have difficulty getting approved for financing through traditional lenders due to having bad credit or no credit history. According to Experian’s 2019 Q2 State of the Automotive Finance Market report,...
2020 Auto Industry Trends for New and Used Cars
Projections for new and used car sales in 2020 are making their way around the auto industry. Used Car Sales Used car sales are expected to rise through 2020, according to Edmunds.com, while used car prices are expected to decline. While a drop...
Why Your Car Dealership’s Website is Important
There’s a lot that goes into managing a car dealership. As more car buyers begin their car search online, it’s important to ensure the information...
5 Ideas to Lead Your Car Dealership to Success in 2020
As with any other business, there are always opportunities to improve your car dealership business. As you’re mapping out your car sales strategy for 2020...
Car Dealer 4-1-1: How to Provide Car Buyers with Credit Approval
There’s an entire market of car buyers with bad credit or no credit who need credit approval and a second chance to improve their credit. The Credit Acceptance auto finance program was designed for car dealers like you to offer credit approval to every customer, regardless of his or her credit history. Car...
Preparing Your Car Dealership for Tax Season in 3 Simple Steps
For many car dealers, tax season can result in a substantial increase in car sales due to eager car shoppers with a tax refund check burning a hole...
Preparing Your Car Dealership for the Holiday Season
While it’s the most wonderful time of the year for retail sellers, the holiday season can be a slow time of year for car dealers. Many consumers...
4 Keys to Having a Successful Inventory Reconditioning Process
In order to sell cars, you need to have a variety of inventory on your lot. One of the main advantages of enrolling in the Credit Acceptance auto finance...
Car Selling 101: How to Maintain Repeat and Referral Business for Your Dealership
One of the keys to achieving success in the car sales business is building trust among potential car buyers. The more trust and goodwill...
Steps for Making Your Car Dealership Stand Out
Like any other business, you want to ensure you are driving leads and foot traffic to your car dealership. But with so many other dealerships out there...
Effective Processes for Running a Successful Car Dealership
As with any other business, running a dealership requires a lot of work. You need a constant flow of prospective and repeat customers to keep your business...
Words from the Wise: How This Enrolled Dealer Achieves Success in the Credit Acceptance Program
Two primary factors that car dealers typically consider when enrolling in the Credit Acceptance auto finance program are:...