The auto sales market has evolved into a hybrid of in-person car buying and online car sales. According to Deloitte’s 2021 Global Automotive Consumer Study, 71 percent of American car shoppers want to buy their car in person, while a recent Harris poll found that 64 percent of consumers aren’t comfortable buying entirely online.
However, both studies also found that there are many parts of the car buying process that consumers prefer to do online, such as completing all their research and paperwork, along with guiding their own auto financing process. They also prefer to evaluate extended warranties at their own pace as part of their research during the online car buying process.
“The main reasons consumers want more of a virtual process are convenience and speed,” said Ryan Robinson, automotive research leader at Deloitte. “A virtual experience tends to alleviate a lot of the consumer pain points that we’ve been hearing about for, frankly, decades.”
Credit Acceptance works with more than 12,000 franchise, independent and BHPH car dealers across the nation to help them sell more cars by giving them the ability to approve credit-challenged buyers for car financing. Last year, enrolled dealers were paid nearly $4 billion in total funding and more than $188.5 million in Portfolio Profit.
If your car dealership wants to increase sales by offering subprime car financing for buyers with bad credit or no credit, simply fill out the form on our website to learn the benefits of becoming an enrolled dealer!
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