Unfortunately, credit issues are playing a bigger role than ever in the Automotive Industry. I have seen countless Internet leads labeled as "Lost" due to credit issues. The reality is that most consumers have credit issues in today's market. Let's face it...no one has perfect credit any more. In the dealership, this should be a window of opportunity. The F&I department needs to have a strategy in place to help the customers and, in the end, help the dealership. What do you think would draw more present and future business, turning away every prospect who is struggling with credit issues, or taking the time to help them set a financial plan in place to buy the best vehicle for them? If we start helping our customers to find a financial plan for themselves, they will come back. They will spread the word. I'm not saying to put your neck on the line for every prospect. If someone just turned 18, has no job, and has no credit or co-signer...I wouldn't touch that deal either. That is a bad risk. If someone walks in who has steady income but damaged credit, there is probably a way to work them into a vehicle. Be their solution. They already know before they make a call or set foot on your lot that their credit is damaged. They probably aren't expecting anything. You have the chance to make the ultimate impression on them for your dealership if you find a way, even if that means a plan for the next few months...they will return.
