Special Finance Expert Wes Crumby Reveals How to Turn a $600 Deal into a $3,000 Deal and More…
Wes Crumby, owner of Subprime Dealer Services, joined Tom Stuker at CBT News to air a feature segment on special finance. Wes shares his knowledge and experience on the subprime industry, lenders, inventory, responsibilities, best practices, and how to make more profit per sale by putting in the extra time.
Special finance is for every dealership no matter the size or type.
Dealerships averaging 80 units a month have the opportunity to move 115 units a month by adding special finance to the mix. By implementing the shark tank approach, special finance and finance can determine the best win for the dealership and the customer. Special finance departments with the right lenders can turn a $600 deal into a $3,000 deal.
Larger dealerships moving 600 units a month or high-end brands that typically don’t focus on special finance should be. They are missing out on a portion of buyers. Subprime and special finance doesn’t necessarily mean no income. Consider the entrepreneurs with high incomes taking business risks that can sometimes leave them with credit blemishes. They have money down, a great income, but can’t get financed conventionally.
Special finance, when done properly, at any dealership offers big rewards. Pairing that department with a direct mail program that actively targets customers matching your preferred profile can make all the difference. Compliance is key when looking for a lead provider. When working leads, building and maintaining relationships can fill your sales funnel with loyal customers and repeat business for life. Click the links below to watch full interviews.
WATCH: Interview Part 1
WATCH: Interview Part 2
About Wes Crumby
Crumby knows just how critical lead generation is to car dealers. Having held several dealership positions (from car sales to sales manager, finance manager, used car manager and then general manager), Wes found his niche in special finance. After leaving the dealership, Crumby began providing consultation throughout the country. He later invented Lot-Pro and sold it in 2004 to Auto Credit Express. Crumby then introduced the “Ace-Cities Selling System,” and in turn introduced special finance to over 500 dealers nationwide. From there, Wes opened Subprime Dealer Services in 2007. Today he continues to provide auto lead programs to dealers around the nation. Crumby’s mission is to guide car dealers to profitability with innovative solutions they can rely on.