Consumer Portfolio Services: Convert Qualified Leads

Sales managers at car dealerships in the Consumer Portfolio Services network realize the importance of training.  Leads programs can be effective when salespeople acknowledge the importance of car shoppers.  A casual conversation while strolling through the pre-owned lot establishes trust in the salesperson.  Shoppers have many questions about the loan programs that are a necessary part of any car purchase.  Most consumers will fall outside the prime lending criteria.  This factor is astonishing to people who used to have access to every form of credit.  Honest explanations about the shift in lending practices engage the customer’s interest.

Selling cars used to be one of the simpler transactions because auto loans were available from many different types of lenders.  Consumer Portfolio Services has watched the prime and subprime categories switch places.  The narrow subprime criteria have been expanded to compensate for the banks’ refusal to accept any risk of non-payment.  CPS wrote many subprime auto loan programs to meet market needs.  Offering subprime loans is necessary for any dealership with the desire to sell cars every month.  Membership in the CPS network provides access to the subprime lending category for a dealership.  Consumers need local dealerships with access to the best selection of subprime loan programs.

Every member of the dealership staff plays an important role in converting a postcard recipient into a car buyer.  Consumer Portfolio Services works with sales managers to devise the best approach in various situations.  One negative comment about the postcards can spell disaster if the car shopper loses faith in the credit offer.  Salespeople will learn the importance of nurturing the customer’s faith in the access to credit presented on the postcard.  In many situations, the postcard recipient knows other people who are having trouble finding car loans.  With proper care, the salesperson can sell multiple cars because of one postcard.

Consumer Portfolio Services: Dealers in the Network

In the past, a car dealership could sell enough cars each month without offering subprime financing.  Consumer Portfolio Services knows that since 2008 dealerships have had to change their sales practices.  Banks have changed the lending criteria to exclude consumers with imperfect credit.  This shift has caused most car buyers to fall into the subprime category.  Without CPS, most dealers do not have access to subprime auto lending programs.  Car sales suffer since most consumers are unable to qualify for auto loans through traditional lenders.  Membership in the CPS network has become a necessity for dealers all across the country.

Dealerships that wish to join the Consumer Portfolio Services network should visit the CPS website.  Informative pages have been written to provide guidance for the application and the various programs offered.  Membership provides valuable training for use of the leads programs that create a steady stream of qualified car buyers each month.  Use of the leads programs can increase the number of cars that are sold each month.  Handling every car shopper with care will increase the number of leads that become sales.  Salespeople will devise personal strategies to retain the shoppers interest long enough to answer their questions.

Dealers learn the importance of reaching out to qualified buyers in the local market.  The Internet is a great tool for displaying the vast automobile inventory.  Personal contact with people is the best way to sell more cars.  Consumer Portfolio Services encourages sales managers to emphasize training with every member of the team.  Anyone who comes to the showroom could become a buyer.  One car sale can become multiple sales to friends and family when the salesperson is friendly and helpful.  Dealerships in the CPS network will reap many benefits from the programs and services available.




Consumer Portfolio Services: A Story of Lending Practices

Securing an auto loan was once the simplest way to enter the credit markets and build a positive payment history.  Consumer Portfolio Services remembers the days when lenders considered most consumers “prime” borrowers.  The series of events that led up to the financial crisis of 2008 has transformed the lending markets.  Prime lenders refuse to accept any risk of non-payment.  This strategy excludes all consumers without pristine credit histories.  The prime lending category has shrunk to a small percentage of loans offered to individual consumers.  A void was created that CPS has had to fill with a wide variety of subprime auto loan programs.

Car salespeople have had to explain this reality countless times in the years since 2008.  Car shoppers arrive on the lot with the intention of buying the car of their dreams.  Auto loans from Consumer Portfolio Services must be affordable for the buyer according to the monthly income and length of employment.  Credit scores are used to match the borrower with the best possible subprime loan program.  Most car purchases financed with a CPS auto loan will be pre-owned vehicles.  Consumers should not be surprised by this fact since the vehicle price must be affordable.

Matching the best possible subprime lending program with an affordable pre-owned vehicle can be the stepping stone for a better credit record.  Consumer Portfolio Services reminds all consumers that subprime lending no longer carries a stigma.  The loan category is not as important as the consumer’s ability to borrow money to purchase a car.  Dealers have extensive inventories of pre-owned vehicles that are beautiful and stylish.  Selling cars is possible when dealers have access to subprime loans through a trusted source.  CPS strives to expand the dealer network each month to make car sales easier for the consumer.


Consumer Portfolio Services: Subprime is the New Normal

Consumers have been surprised when a car salesperson reveals the need to find subprime financing for an auto loan.  Consumer Portfolio Services has watched the radical transformation of the lending markets.  Buying a car used to be simple since there were so many sources of auto financing.  In 2008, the traditional banks decided to change the lending rules.  Prime lending criteria changed to include only people with pristine credit records.  Car dealership sales numbers plummeted since most car buyers could not qualify for an auto loan.  In response, CPS designed various subprime lending programs to fill the gap.

One visit to the local car dealership can be discouraging if that dealer is not in the Consumer Portfolio Services network.  Car shoppers should ask if the dealership has access to subprime auto loans.  Almost every buyer will fall outside the prime category.  The word “subprime” no longer carries a stigma since the banks caused the shift in lending criteria.  CPS is the only remaining provider of third-party auto loans.  Dealers are joining the network at a record pace because car sales have been affected dramatically.  Consumers should not worry about the label on the auto loan.  The most important factor is to find an affordable car.

Experienced car salespeople work with car shoppers to fill out the online loan application on the Consumer Portfolio Services website.  The automated decision engine will evaluate the monthly income and length of employment to qualify the applicant.  The credit record is used to select the best subprime loan program.  Salespeople know that a complete application will receive a response in a matter of minutes.  More than 97 percent of all CPS loan applications are processed automatically.  Car buyers can rest assured that fairness in lending is the most important factor at CPS.  Demographic information, such as race, age or gender, are never used in the application process.



Consumer Portfolio Services: Promises Kept

The shower of postcards sent to consumers creates a cloud of suspicion when the financing options prove to be false.  Consumer Portfolio Services believes every postcard sent through the Direct Mail program should be honored.  Dealers participate in the program to reach out to qualified car buyers in the local market.  Experian, the credit bureau, creates the list from the credit history database.  Consumers who have been shopping for cars are easily identifiable by the queries against their records.  Those who have not secured financing are still looking for a vehicle.  The list of qualified car shoppers is sent to the dealers.

One glimpse at the Consumer Portfolio Services postcard reveals a difference in the approach.  Car buyers can rest assured that the credit offer on the card is legitimate.  Any number of events can occur to cause scars on the credit history.  Major purchases are almost impossible with imperfect credit.  In recent years, traditional banks have decided to avoid all risk of non-payment.  Car purchases require access to auto loans for most people.  CPS believes most consumers will repay an affordable auto loan on time.  The Direct Mail program is the best way to contact potential car buyers.

One visit to a dealership in the Consumer Portfolio Services network will validate the postcard offer of credit.  Salespeople know that a postcard recipient is skeptical.  Conversations about the personal desire to buy a car can be accompanied by completing the online application.  CPS has a broad selection of loan programs that are intended to address almost every credit situation, such as no credit history, bankruptcy and disputes.  Once the auto loan is pre-approved, the car buyer can relax and find an affordable pre-owned vehicle on the lot.  This process is repeated countless times each day all across the country.

Consumer Portfolio Services: Making Hard to Get Auto-Loans Accessible

For people with poor to bad credit ratings, or someone just starting out, it can be extremely difficult to obtain any type of loan in todays economy. Recently, this is more the norm than in the past. It’s not hard to fall on bad times from a job loss or unexpected hospital bills. That can become so burdensome to the point that it can be difficult to pay back and that can negatively affect one’s credit rating.

This has obvious ramifications, and sometimes we all just need a little helping hand in the worst of times.  So when it comes time to purchase a new vehicle, securing a loan may be next to impossible.  But that’s where Consumer Portfolio Services can help!

By offering auto-loans to people with little to no credit, or those with a lower rating than others may be willing to lend, Consumer Portfolio Services makes it possible to purchase your next vehicle.  They offer rates that are competitive and financing options based on your rating that helps make it accessible for those times when a little helping hand is needed. And with over 100,000 costumers served and a company portfolio of over $800 million, there’s a confidence that comes from securing your loan from them.

Whether you’ve fallen on hard times or just starting out, securing an auto-loan from a reliable lender is difficult.  But with Consumer Portfolio Services, you have easy access to a lender that offers great rates and works to provide you with repayment options based on your ability to pay.  And with that security comes a confidence that you’ll be able to get the funds you need to purchase that new vehicle, whether its for work, play or just in need of better transportation, you’ll be cruising in no-time.


Consumer Portfolio Services: Phil Finds Car Financing

In recent months, Phil has been visiting car dealerships around town.  A couple of times he has applied for financing on a pre-owned pickup.  Three years ago, his wife died without life insurance and left him with final expenses, which have caused credit problems. Today, Phil found a postcard in his mailbox that had a car loan offer.  The local dealership is a member of the Consumer Portfolio Services network that offers third party financing for car purchases.  Even though Phil is skeptical, he will visit the dealership on his day off to investigate the possibilities.

Upon arrival at the dealership, a salesman named Kevin greeted Phil warmly.  The postcard was visible in Phil’s pocket, so Kevin knew he was speaking with a qualified car buyer.  Consumer Portfolio Services partners with Experian, the credit bureau, to create a list of local car buyers who fall within the loan approval criteria.  Kevin’s questions allowed Phil to share more about his vehicle preferences without worrying too much about the financing.  This approach allowed the two men to look through the selection of pre-owned vehicles on the lot and check the area for other choices.

From Kevin’s office, the online loan application was completed on the Consumer Portfolio Services website.  Phil had not asked enough questions about the financing options in his previous visits.  Within minutes, Kevin had received an approval on the car financing.  Phil would be able to choose from three different vehicles that fell within the price range on the loan.  A couple of hours later Phil had completed the paperwork and drove away in the vehicle of his choice.

The CPS direct mail program reaches out to qualified car buyers in communities all across the United States.  Car loans are available for people with less than perfect credit.

Consumer Portfolio Services: Lucy Discovers a New Approach

A new job and apartment were Lucy’s immediate needs after her marriage fell apart.  Almost a year later, Lucy needs to buy a car, but is it possible?  Consumer Portfolio Services offers various subprime loan programs for people with less-than-perfect credit.  Lucy’s credit history is non-existent.  All of her previous attempts to qualify for credit have been declined.  In her small town, she has two dealerships from which to choose.  On her first day off in over two weeks, she visits one dealership.  The answer is discouraging because the dealership does not have a source of sub-prime auto financing.

Another week passes before Lucy decides to visit the other dealership in town.  To her amazement, Thomas greets her like an old friend.  A brief walk through the pre-owned vehicles allows Lucy to tell her personal story.  Thomas knows that Consumer Portfolio Services has at least one auto loan program for Lucy.  Together, they return to his office and complete a CPS online application.  Thomas is provides Lucy’s length of employment and monthly income information.  The automated decision engine processes the application and returns an answer within a few minutes.  Thomas smiles and tells Lucy that the fun part is next: selecting an affordable vehicle.

Consumer Portfolio Services has loan programs for people like Lucy who deserve an opportunity to build a positive credit history.  Through her on-time loan payments, she will establish a record of paying her bills on time.  Other credit opportunities will be available to her as other types of credit in her history are added.  CPS knows that an affordable vehicle is essential because the buyer must be able to make every payment over the next four or five years.  Thomas realizes that careful handling of Lucy’s situation can lead to more car sales to her friends and family.

Consumer Portfolio Services: Rob Finds Hope in the Mailbox

As an apartment dweller, Rob knows that a walk to the mailbox center can be an adventure.  One day, Rob pulled the mail from his box and found a Consumer Portfolio Services postcard that was addressed to another tenant.  The car dealership’s name was familiar, so Rob decided to visit over the weekend.  He knew that his own credit was imperfect, but it was time to buy a car.  He figured that the worst answer he could receive was, “no.”  Rob placed the postcard in the misfiled mailbox and went about his day.  He wondered if the offer was legitimate.

On Saturday morning, Rob visited the local dealership.  While he was walking through the pre-owned vehicles, Abby walked up to him and introduced herself.  He knew from her demeanor that she was willing to answer his questions.  He told her about seeing the postcard that was sent to someone else and asked her if the offers on the postcards were real.  Abby explained the Consumer Portfolio Service direct mail program.  Experian, the credit bureau, provides a CPS member dealership with a list of qualified car buyers in the area.  The postcards are mailed out to people who are qualified for one of the CPS auto loan programs.

Abby walked with Rob back to her office.  Together, they filled out an online application on the Consumer Portfolio Services website.  Within a few minutes, Abby was able to tell Rob that his length of employment and monthly income fell within the acceptable range.  Rob decided to go back out on the car lot and look at the vehicles in an affordable price range.  Before lunch, Rob had purchased a car that met his personal needs.  Later that evening, he told his girlfriend his story about the postcard and his venture to buy a car.  On Sunday, they returned to the lot, and Abby sold another car.


Consumer Portfolio Services: Stacey Needs a Car

As an independent consultant, Stacey relies on her vehicle to travel to each client’s location.  Unfortunately, her car decided to die and left her stranded one day last week.  The time arrived to find a different car.  Consumer Portfolio Services has loan programs for self-employed people like Stacey.  Traditional lending criteria have moved away from anyone who falls outside of standard employment situations.  The result has been an auto sales market that is struggling to find enough customers to make sales quotas each month.  CPS has loan programs that fit virtually any situation, including Stacey’s.

At the first dealership, Stacey learned that her credit profile falls outside the prime lending market.  The dealership had not joined the Consumer Portfolio Services network, so they could not offer subprime financing.  Stacey went home dejected that day and wondered what she could do.  Fortunately, the answer was waiting for her in the mailbox.  Another local dealership had mailed out marketing postcards from the CPS direct mail program.  With some skepticism, Stacey decided to call the other local car dealership.  Her call was transferred to Bruce, who answered all of her questions about the possibility of financing a vehicle purchase.  They made an appointment for the next day.

Upon arrival at the showroom, Bruce asked Stacey if she would like to walk through the pre-owned vehicle lot.  Bruce knew that Consumer Portfolio Services would require a vehicle price that would be affordable for Stacey.  They selected three different vehicles and went inside to fill out the online application.  CPS has an automated decision engine that reviews all applications.  Within minutes, Bruce was speaking with a loan expert since Stacey is self-employed.  A loan program was matched with Stacey’s situation, and the financing portion of the sale was complete.  After another 90 minutes, Stacey left the lot in her “new” car.