Travis Weisleder "Special Finance Online"
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The document discusses special finance in the used car industry. It notes that historically, used car dealers did most special finance lending, but now many third parties have entered the market. Key metrics are provided, such as average gross profit per deal being around $2,966 and average retail price being $14,953. Various marketing channels are discussed, and it is noted that while digital has grown, building a strong brand remains very important. Additional statistics on conversion rates and costs per lead and sale are also presented.
Travis Weisleder "Special Finance Online"
- 1. Pg. 49 Special Finance Online Travis Weisleder Partner & President Digital Marketing Networks
- 3. Travis Weisleder Third Generation Car Family Founder of InterActive Financial Marketing & Carloan.com President of Digital Marketing Networks
- 4. Special Finance Who is doing Special Finance Today? Who used to do Special Finance?
- 5. Is Special Finance Profitable? Used Car University Benchmarks New vs. Used % 65% Used Average Gross Per Deal ~$2,966 Average Retail Price $14,953
- 6. How Do We Get There? Commitment People Lenders Cars Process Marketing =Total Buy In
- 7. Commitment
- 8. People
- 9. Lenders
- 10. Cars
- 11. Process
- 12. Marketing
- 13. COMMITMENT!
- 14. Marketing Where has it gone from and where is it going? 10 Years ago Paper Now Internet? Radio? Social? Direct Mail? More complex than ever!
- 15. But one thing is the same BRAND! Your brand is still the more important!
- 16. Lastly More Stats to get us home! Conversion by Source Third Party Leads ~11% Web Site ~14.8% Phone Ups ~15.9% Walk ins ~28%
- 17. Cost Per Lead ~$57 Cost Per Sale ~$447 Advertising Cost as % of Total SF GP ~15%