Where are you and your customers turning for financing?
Conversations with dealers these days don't last long before the
topic of financing comes up. Across all Manheim Specialty categories we hear dealers talking about challenges matching Black Book, NADA and other book pricing to retail and in finding banks to finance consumer purchases. Some dealers report some loosening for consumers and their own businesses, but certainly not enough to support as quick a recovery as we'd all like.
We came across a free F&I webinar on PowerSportsBusiness.com on March 24. And to support the wholesale business, Manheim has a floor plan arm, MAFS, that offers floor planning to a variety of Specialty customers, including RVs and motorcycles. Manheim sales can help dealers connect with GE Capital for boat financing as well.
We want to hear what's going on in your world - how are you getting customers financed these days? Are you seeing a bigger percentage of credit unions and small banks doing the financing? Do you anticipate the bigger banks getting back to (or even close to) previous financing levels? Has your dealership found other ways to get customers into new and used product? We look forward to hearing from you.
Samantha Greene is Inside Sales Representative - RVs - for Manheim Specialty Auctions
Chris Hood is a Senior Marketing Manager at Manheim and has 15 years' experience in auction, sports and event marketing