How Car Dealerships Can Approve Car Buyers with Multiple Open Autos or Repossessions

customer shakes car dealer hand

There are many scenarios that may prevent car buyers from getting credit approval from traditional finance companies and auto lenders, two of which include multiple autos on bureau and/or one or more repossessions on the customer’s credit history.

With the economy in such an uncertain state, car dealerships may want to add subprime auto financing options to be able to help car buyers with bad credit purchase a car.

Here’s how your car dealership can approve car buyers with multiple open autos or repossessions in their credit history:

  1. Enroll in the Credit Acceptance auto finance program.
    Car dealerships enrolled in our program can provide written credit approval to every customer who walks into their dealership, enabling dealers to serve more customers, sell more cars, make more money and help car buyers purchase an affordable and reliable vehicle that meets their needs.

  2. Educate car buyers on their auto financing options.
    You want to make sure that every customer knows they can receive credit approval to buy a car through your dealership, regardless of their credit history or income status. Enrolling in the Credit Acceptance program enables you to educate car buyers with multiple open autos or repossessions on their auto financing options and offer them a solution to buy a reliable car on credit.

  3. Enter every application into our proprietary Credit Approval Processing System (CAPS®)
    Generate an approval on every new or used vehicle for every customer, regardless of bad credit or no credit history. With CAPS, you can easily structure deals that are profitable to you and affordable for your customers.

Through the Credit Acceptance program, more than 12,000 franchise, independent and BHPH car dealerships across the nation can approve car buyers with open autos and prior repossessions.

If your car dealership is looking to increase your car sales by offering more credit approvals, fill out the Become a Dealer form to learn more about the benefits of enrolling in our auto finance program.