Auto Credit Express Blog
April 14, 2008
Special Finance Managers – get prepared for tax refunds
While many look upon the 15th of April with a less than enthusiastic attitude, subprime finance managers need to prepare for more business while re-visiting old deals…
Tax season is also refund season
While April 15th means the deadline for filing tax returns for most people, for special finance managers it means customers will be coming in with down payments for car loans. For many subprime customers, this is the one time of the year that they may have the opportunity to buy a car, since their tax refund is the largest lump sum of cash that they will have this year.
Since this year presents so many challenges to our target customers, it is imperative that we contact them. There are many things about the economy to worry about – high gas prices, higher food prices and the uncertainty of the job market. All these things will be competing with the need for a new car this year.
Follow up, follow up, and follow up
I could keep writing this, but you get the idea. Now is the time to go through all those deals that couldn’t get done for at least the previous 6 months. Many of them couldn’t get approved because the customer either had no down payment or couldn’t come up with enough of a down payment. Go back over each deal and contact those customers with down payment issues.
This year will have 2 refund seasons
Don’t forget that this year holds the possibility of 2 tax refunds. Even though your customers may not be getting a refund from their return this spring, there is a good chance that they will be getting a refund early this summer when the economic stimulus payments will be issued. In fact, if your customer chose direct deposit and filed by April 15th, their payment will be transmitted no later than May 16th. It might be a good idea to brush up on this information which can be found at www.irs.gov.
Now is the time to get prepared with LotProOnline
Now, more than ever, you need a software product that will make your follow up more efficient and more effective. LotProOnline has the ability to organize all your leads as well as schedule follow up appointments. For more information on the best subprime software on the planet, contact us at 888.535.2277 or by using our quick contact form.
