Dealers missing out on lucrative commission

Car dealers are missing out on a potentially lucrative income stream worth as much as £8,500 a vehicle by not being savvy enough with finance. Dealers are often too focused on completing sales that they overlook finance commission. Bridford Finance is able to lend at rates as low as 3.95 per cent, very competitive commission levels are offered to dealers. Owner of Bridford, Tim Marlow, said: “Dealers are letting easy money walk out of the door by not offering to quote on finance when customers already have lenders in mind or are considering using in-house options. “When buyers look at vehicles they often get provisional finance in place beforehand and will have a quote they are satisfied with but dealers should offer to see if they can beat it through finance houses. “Not only will they help the customer save money and control more of the transaction, they will crucially earn very competitive commission by financing the vehicle. “For example, finance packages for cars like the Ferrari 458 Italia and the Lamborghini Aventador LP700-4 - two of the most popular vehicles we have funded in recent times - sees dealers able to earn as much as £8,500 commission. “Our Approved Dealers have been benefiting from this for some time and more and more are using us now to take advantage but some are still too pre-occupied with closing the deal and neglect it.” The days of finance quotes slowing transactions down are a thing of the past. “Finance can be approved incredibly quickly nowadays, it’s a matter of taking a customer’s basic details and making a telephone call so precious little time is lost closing the deal.

“So once the customer is committed to the sale, it takes very little effort for the dealer to call us for a quote or use our free online car dealer calculator. “We are very rarely beaten on price because of the flexibility in our products and it makes a huge difference to dealers’ bottom line very quickly.” Our free online calculator is available here: www.bridford.co.uk/dealer-calculator