By: Robert O'Hara, VP Strategic Alliances, GrooveCar & CU Xpress Lease
You better put auto loan growth efforts into high gear…here’s why.
We just made a huge announcement involving closing the sales loop between the online, and offline world in auto buying. Powerful stuff, you bet! Our promise to you is— we’re not about to let a member slip through the cracks. The world is moving quick and keeping up with members during their auto journey, should be seamless. We’ve found that when our credit union partners communicate with members during the auto buying cycle, they had a greater increase of loan growth, than those who did not. The findings were overwhelming.
Are You Capitalizing on the Members’ Auto Journey?
We provide the ability to connect with members online while remaining relevant during each step of the auto buying journey. There are no barriers that exist to keep you from serving your members online, and off. The GrooveCar platform has features that are designed to capture your members’ interest, while providing you with the tools to serve them better. The ability to be online and offline, at the same time, is one of the most powerful ways to grow an auto loan portfolio. Remember, members spend an average of 14 hours over 4 months researching online, on your GrooveCar resource. Don’t miss the opportunity to be of service when this vital decision making window is open.
Not There Yet? Why Not?
Credit unions are at the forefront of providing interactive services to members, it has been widely reported that banks are just starting to realize how they’ve missed the opportunity to be of service online. Not credit unions! Consumers, your members, are looking to their lending institutions for guidance and education to help make life’s large purchases. They have been doing this for some time now. The GrooveCar program has been providing this service to credit unions since 1999, we understand the power of the internet. We have taken all that knowledge and put into the best program for bringing members, credit unions and preferred dealers together. Providing online checking and banking is not enough. Stand out and get with the program, the GrooveCar program. Now is the time to be a powerful resource to members in all areas, especially auto buying.
Here’s the Why…
Members educate themselves prior to making the decision to purchase an auto online, on a customized platform provided to them, by you. We discovered millions of auto sites they can go to online…keep them with you by giving them what they need. Members are researching pricing, trade-in values, loan structures all while saving the information until they are ready to head out, and to experience the vehicle in person. Along the way, the credit union receives alerts allowing you to interact in person, over the phone, in an email. This is a powerful closing tool. We have also kept the dealer in your corner, with a maintained inventory database specific to both of your needs. This puts you in a great place synergistically with your preferred auto dealers.