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Autotrader Buy Here Pay Here [2021]

Tip: For the most part, we discourage anyone from co-signing a car loan for someone else. There is no upside. It can negatively affect your credit score. Moreover, even if you wind up making the payments and paying off the loan, the car is not yours. It remains the property of the borrower.

autotrader buy here pay here

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"On the dealer side, we know buy-here, pay-here dealers generally like to do business locally. The dealers are going to be able to designate how far out a consumer is able to see them so they can limit the consumer participation," he continued. "We also have a pretty good collection of marketing and merchandising tools for the dealers. Every participating dealer will have their own microsite that they can list their inventory. They can include photos. They can include video.

"A lot of the smaller buy-here, pay-here dealers don't have websites. If they want to use this Buy-Here, Pay-Here Center microsite as their own website, they can do that just by buying a domain and redirecting it. Then it can be branded with their own experience, he said"

"We're only allowing dealers that specialize in in-house financing and buy-here, pay-here to participate," said Smith, mentioning that will initially promote the center with house ads on its own website as well as links located on other pages throughout its platform.

"From there, it's really driven by dealer participation because in order to promote to consumers, we've got to have enough dealers," Smith said. "Honestly, the number of dealers we need is really going to be determined differently by geography. These are local shoppers shopping in a local market. They're going to want to look locally, and these dealers are going to want to target locally.

"Once we have enough dealer participation, we're hoping within 60 days of the soft launch to be able to start promoting it consumers," he continued. "From there it's really an ongoing evolution. That first 12 months is really critical from a feedback and innovation standpoint. The next year once we get shoppers and dealers using the site, it will even get better because we're going to listen to their feedback."

"We want the participation of every single buy-here, pay-here dealer in America," he said. " The key importance for us is we want to create that marketplace, essentially that directory of every buy-here, pay-here dealer in the country. That way the 10 percent of consumers who need in-house financing can come to our site and feel confident that they can find a dealer."

"From our sales force, the field staff is very excited. Their attitude has almost been, 'It's about time.' The field has been waiting for this for a long time," Kelly said. "Our dealer solutions center, which is our Dallas support center that is specifically independent dealers, also is very excited about this. They work with many buy-here, pay-here stores. They know that this is a solution that's really long overdue in the market.

" The dealers we've spoken with are also very excited. If you think about it today, a dealer who offers buy-here, pay-here, it's very difficult for them to find a laser-beam focused way to target consumers who need in-house financing. There's a lot of excitement across the board," he went on say. 041b061a72


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