Sure, there are plenty of tools out there that will help you manage your subprime inventory, but our patented LotPro® Subprime Selling System can do a lot more.
LotPro is easy to use, and it can save you time by streamlining the subprime process and allow you to increase your gross profit on every deal. This valuable tool will also keep you compliant with lender advance parameters ensuring deals don't get kicked back at contracting. So, if you are targeting subprime customers, LotPro can do a lot to simplify those deals and ensure that you are matching each customer with the right vehicle, maximizing every opportunity.
How LotPro Works with Subprime Sales
As you know, a subprime deal requires you to work with a monthly budget or payment. A subprime buyer can't just walk onto a lot and pick out a vehicle. You have to first determine which cars in your inventory the customer qualifies for based on that monthly payment and the lender's advance parameters. Not only that, but you also need to narrow down the customer's options to only include the qualifying vehicles that will earn you a profit.
And you don't just want to turn a profit. Ideally, you want to maximize your profits and make the most money possible with each and every subprime deal. LotPro can help you do this. Here's how:
- Book Values: LotPro not only stores detailed information about every vehicle in your inventory, but also automatically updates their book values. You will always have the most current values from Black Book, Kelley Blue Book and NADA Guides.
- Lenders: LotPro gives you quick access to your favorite subprime lenders so that you can get the paper placed and the customer into a deal fast.
- Car Deal Excelerator: When using LotPro to structure a deal, all you have to do is select the lender, click the green "Find Deals" button and the Car Deal Excelerator will spring into action. Within seconds, LotPro will locate the qualifying vehicles in your inventory and create a report displaying the gross profit, the payment and age of the vehicle. A quick glance will tell you which vehicle would be an ideal match for each subprime buyer. Select a vehicle from the report and the complete structure is now in the desking tool. This will allow you to further maximize your profit by adding back end products while always keeping the deal correctly structured and never over advanced. The entire structure can now be pushed to either Dealertrack or Route One for final decisioning, further streamlining the process.
In addition to giving you the means to structure the most profitable subprime deals, LotPro comes with access to vehicle history reports from CARFAX and AutoCheck. And if you want to target fresh BK leads, your LotPro subscription includes a weekly updated Bankruptcy List. This list will make it possible for you to reach out to prospective buyers right after their Chapter 7 filing dates and immediately following their Chapter 13 discharge dates.
Your subprime leads can also be managed with LotPro. Detailed information about every potential and existing customer is stored and immediately accessible. You will even get email and letter templates to make customer communication a breeze.
Get the LotPro Advantage Right Now
Signing on with LotPro is easy and because there are no long-term contracts, there is little risk involved. You can get more information about the LotPro® Subprime Selling System, the best subprime sales leads in the industry and other innovative dealer products from Auto Credit Express by contacting us today. Just give us a call at (888)535-2277 or fill out the convenient contact form on our website. We look forward to being one of the Most Valuable Players on your team.