Published on November 25th, 2017 | by Corey0
How To Find Subprime Car Leads
If you’re looking for subprime car leads, there are several ways you can go about it. Auto dealers spend a ton of money per year trying to get people into car dealerships, and with good reason. Auto financing interest generates $98 billion in revenue annually, which is a lot of money to be raking in across the nation. More specifically, subprime financing interest generates $10 billion in annual revenue. Subprime loans are those catered to customers who have lower credit scores or have factors on their credit reports that indicate that they might not be the most reliable with paying back bills and loans. Subprime loans have higher interest rates than prime loans which means you will earn more in interest. The problem with subprime loans is that while there are definitely people out there who need them, it can be hard to find them.
Like all successful businesses, there is a successful strategy for getting people in the door. One way to get customers is with leads, and in this case, subprime car leads. Leads will help you find those that are great candidates for subprime loans and makes it easier for you to find a new demographic to reach out to with your service. In order to find these leads, follow these simple steps.
1. Offer a great referral service
By revisiting your list of old customers and keeping in touch with them, you can unlock more leads. Try sending out an email blast to a list of all of your old customers that invites them to refer a friend or family member for a reward. This reward can be a cash offer, such as a flat dollar amount you give to each person who refers someone. The key here though is to only give the referral bonus if the referred person ends up going through with getting a subprime loan from you. Otherwise, your business could find itself in financial trouble and people might just try to pass off people they think are “interested” in for the money, but you will get no return on that investment.
2. Try social media
To find auto loan leads, try turning to social media and offer digital ads. Facebook has a great feature where you can design an ad and then target it to a certain demographic, such as people in a specific area or people who have certain interests. You can target people living in your local area, and people who have an interest in automobiles. This is a great way to find subprime auto finance leads as we live in an age where everyone is on the internet and has social media. If a person does not, someone in their family or in their social circle most likely does and can spread the word. This is why the referral program is so important!
3. Create a blog with engaging content
By creating a blog with engaging content and having it be SEO driven, not only will more people be able to find your company online, but it also shows that you have experience and knowledge in the field and can help people looking for a subprime auto loan. A blog is a great way to find subprime car leads without having to invest a whole lot of money either. Hiring freelancers to write 1-2 articles per week can really boost traffic to your site.
Do you have any more suggestions for trying to find subprime car leads? Share them in the comments below! We would love to hear your great ideas!