Used Car NewsUsed Car News

Featured News

Suzuki Recalls Bikes for Chains
Suzuki Motor of America Inc. is recalling certain model year 2011-2014 GSX-R750 and 2009-2014 GSX-R1...

Read more

Infiniti, Chevy, Carfax Earn Honors
Advertising analytics firm Ace Metrix announced the top scoring ads of the third quarter of 2014. In...

Read more

Most Car Shoppers Use Social Media
Digital Air Strike has released the results of its 2014 Automotive Social Media Trends Study.
...

Read more

NextGear Capital WIns Award
NextGear Capital and EffectiveUI were recently honored with a silver award at the W3 ...

Read more

Suzuki Recalls Bikes for Chains
Infiniti, Chevy, Carfax Earn Honors
Most Car Shoppers Use Social Media
NextGear Capital WIns Award

Used Car News | Home

Consumers Want Credit Repair

If buy-here, pay-here dealers aren’t reporting data to the credit bureaus, they’re missing a great opportunity to build a customer base.

That’s the finding of a study by AutoTrader.com presented at the recent National Alliance of Buy-Here, Pay-Here Dealers conference.


The two top concerns for shoppers remain financing and inventory. But consumers are interested in rebuilding their credit.


That’s especially true after the recent downturn.


Howard Polirer, AutoTrader.com’s director of industry relations, said few dealers promote credit rehabilitiation in their online advertising.


That could be because few actually do it. Only a little more than a third of buy-here, pay-here dealers report payment information to the credit bureaus.


Polirer also said dealers need to make consumers more comfortable about the car-buying process.


He recommends including information about what consumers need to get approved for credit at the dealership.


Polirer said testimonials from existing customers are another way to promote a sense of trust with the dealer.