DIRECT

Direct Credit Union Lending

CURRENT SITUATION:

INDIRECT

Indirect Credit Union Lending

CURRENT SITUATION:

Unsecured Loan Approval. Your member applies for an auto loan and the approval offer expires in the loan que.  After a follow-up, the frontline learns that the member purchased a car and financed their loan elsewhere. 
SOLUTION:

Inactive member accounts.  Dealer signs up a new member and delivers the car with a credit union loan.  Later, when the loan is paid-off the dealer loses the customer and the credit union has a non-banking member account and a random chance for a second loan. 

Secured Loan Approval. Automate your loan origination system with collateral. With the loan application the member receives their AutoPerks certificate.  
 
What is the benefit to the dealer?
SOLUTION:

Welcome Email with PURL (Personal URL).  Shortly after the loan is activated, the credit union emails a welcome letter with a PURL link.  This is a team effort with the originating dealer. 

1.  Referral that is ready to buy.
 
2.  Oil change reminders that will lead to
     service visits and repeat sale.
 
3.  Lower cost per sale compared to
     new customer advertising. 

1.  Dealer incentive is to offer and cross-sell

     discount oil change package for service

     visits, continued relationship, and the 

     opportunity to earn a repeat sale.

2.  Credit union incentive is to offer and cross

     sell banking services including a pre-

     approved Visa credit card, home equity

     loan, savings, checking and other banking

     items to attract full-service membership.​

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How Oil Change Reminders Lead

to a Repeat Transaction:

1.  After the member accepts the oil change

     offer, automated email or text reminders

     lead to service visits every six months for

     oil changes including survey feed-back

     to assure a satisfaction rating of 5 stars.

2.  When the loan matures to 50%, the

     member receives a $20 Amazon gift card

     in exchange for sharing plans to replace

     the vehicle in the next 36 months.*

3.  The dealer will follow up to confirm a

     repeat transaction and the credit union

     will fund the sale with a second loan.

*The credit union receives a copy of the member reply.  Best practice suggestion is to offer the member a pre-approval to help the dealer close a repeat sale (and loan!).  Repeat transaction made easy.

©2019  AutoLine Marketing Group, LLC

547 E. Washington St | Chagrin Falls, OH 44022

888-634.4704