Did you know 30% of Canadians cannot get bank or OEM financing approval for their new vehicle?
Often these consumers may have a high level of credit, but given their risk factors , require, at least in the short-term a non-prime lending solution.
TransUnion reported a 4.2% increase in consumer credit balance in Q1 of 2019. It just so happens that the auto industry is one of the largest markets where this growth is taking place.
Good news for Canadian dealerships.
66% of all Canadian consumers seek financing directly from a dealership. This is 10% above the global average, signaling a huge opportunity in the non-prime market for car dealers.
The opportunity to capitalize on this consumer market is a great way to generate more business and sales volume. It takes very small changes in how a dealership handles these customers to start seeing a very large increase in revenue.
That’s where we come in…
LendCare provides your business with full circle financing solutions that fit everyone’s needs. We don’t make you jump through hoops to get your sub-prime customers approved and have less conditions than your traditional lending options. We get you lightning-fast approvals right at point of sale, then direct deposit your funds within a few days of you booking the deal.
LendCare gets you paid and takes care of everything that comes after. We are the perfect solution for catering to all your customers, regardless of their credit score, while helping you maximize profit and customer retention.
Don’t believe us? Send us your declines today and see for yourself how LendCare will change the way you view credit potential.