As lockdown restrictions get eased and manufacturers offer an array of incentives to generate showroom traffic, it’s a perfect time to look at ways to improve your F&I earnings while offering customers more flexibility.
AutoPayPlus is a simple tool that customers can use to pay off loans faster. Rather than monthly payments, AutoPayPlus deducts bi-weekly, so it effectively generates an extra payment every year.
Those extra payments also drive customers back to the showroom sooner because they build equity more quickly, making new car shopping more tempting and trade-ins smoother.
This is also a huge value add for customers because once they sign up for AutoPayPlus, they can add any loan type to the account, including mortgage, credit cards and student loans. AutoPayPlus also provides account auditing and credit monitoring to protect the consumer.
The faster payoff means less interest paid, for substantial savings over the lifetime of a loan – all while ensuring payments are made on time and accurately.
Use this calculator to show consumers the ease and effectiveness of AutoPayPlus in saving them money, adding convenience to their recurring bills and getting them out of debt sooner. This can be especially effective if they have been upside down on their trade – faster payments build value faster.
As payoff periods get increasingly long, this is a great tool for consumers to protect themselves while providing critical F&I revenue.
Contact us to add AutoPayPlus to your F&I offerings.