Sponsored by:

Higher Turnover Websites

the #1 Provider of Car Salesman Websites and Dealership Sites

Please note that comment moderation is being used on this blog. This means that you are free to comment on any posts, however they will be reviewed prior to being posted on the live site. We welcome any legitimate comments, but comments including links to your own sites (i.e. "link spamming" or "comment spam") will be marked as spam and will not be published. If you have comments that will be useful to other readers, feel free to post them, otherwise go spam someone else's blog!

Tuesday, July 03, 2007

Bankruptcy and Auto Loan Approvals

Looks like the sub prime auto finance market is on a path for continued growth. I just read an article from SubPrime Auto Finance News about the number of bankruptcy filings hitting an all time high for the first quarter of this year, up about 66% over the same period last year. While this is highly discouraging for the American public who seems to be taking on more debt than ever, it must have buy here pay here and rent to own car dealers optimistic.

In my opinion, I think over the next few years we're going to see more and more of the larger dealerships tapping into the sub-prime market. We've had large franchises contact us recently to create secondary websites for them aimed at this market. I expect to see these types of requests increase, because whether a dealer wants to put up with the traditional problems of sub-prime financing or not, business is all about revenue.

The ripple effects will also be seen in related products such as RFID tracking/shutoff devices and programs geared toward dealers who want to offer financing to sub prime customers.

All in all, we've watched this market grow very fast in the last few years, and it isn't showing any signs of slowing down any time soon. If you as a dealer have the stomach for it, "All Aboard".

1 comment:

Anonymous said...
This comment has been removed by a blog administrator.