Indirect Auto Finance

The overall auto finance marketplace today is dominated by Indirect Lending.  Even though the Indirect lending model continues to evolve, indirect lending will always be the major distribution channel for auto loans. Based on how the market place has evolved, there cannot be companies that are “doing business as normal.” Change has occurred in the Indirect lending marketplace and that change will continue.

As Indirect auto lending entities look at their business, here are some of the questions many are asking:

  • How will the changes in the regulatory environment impact us and our dealer customers?
  • What should be our sales and marketing strategy to efficiently and effectively get good relationship with good dealers?
  • How should we manage our communication with dealers recognizing all the technology tools that are available?
  • How can technology assist in streamlining our internal process and our external processes with our dealer customers?
  • How can technology be used to compensate for high personnel turnover at dealerships?
  • How will changes in the external technology environment with companies such as RouteOne and DealerTrack impact us?
  • How can social media help us and what are the risks?
  • How does my operational efficiency and effectiveness compare to market leaders?
  • How do I scale my business effectively to take advantage of returning volume?

Intersection Technologies, Inc. F&I Consult business has expertise and knowledge across all aspects of the Indirect lending market place. We are ready to engage with companies from a strategic perspective that are looking at how their business will evolve to companies that are looking at the more tactical side of their business via process improvement.

Here are just some of the ways F&IConsult can work with your Indirect lending business:

  • Dealer Relations includes sales strategies, preferred dealer programs, floorplanning activities, dealer approved channels and understanding what is important to a dealership from their perspective. Incentive programs to increase your “stickiness” with the dealer.
  • Credit Processing – reviews processing systems, data input, turnaround time,
  • Funding process and compliance.
  • Pass thru programs
  • Leasing program development and residual value management process
  • Residual value protection  options
  • Collateral Management involves lien perfection, exception processing, insurance tracking, collateral substitutions and transfers of obligation.
  • Customer Service including payment processing
  • Remarketing process for repossessions and lease maturities. Overall mitigation of residual value risk by the development of upstream remarketing channels.
  • Collections and new collection and recovery and skip tracing tools

To learn more about how our F&I Consult business can help  your organization contact us here.