A UNIQUE car sales and finance lead generation tool for dealers, powered by CAP data, has been launched by Car Finance Renewals Ltd.
The company promises perfectly timed leads, based on the optimal moment for dealers to contact customers with offers to renew their car and finance while maintaining unchanged monthly payments.
Car Finance Renewals Ltd chose CAP as its partner for future residual values, current used values, vehicle data and images.
The system has been built as a web-based CRM tool and CAP data enables the tracking of optimal lead generation timing automatically.
Tim Wellman, MD of Car Finance Renewals Ltd, said: “The motor retail sector has typically missed millions of pounds in repeat business thanks to the traditionally unscientific approach to finance customer retention.
“This has been because the leads supplied back to the originating dealers tend to arrive with limited or partial information and are supplied at incorrect times within the customer’s period of ownership. The timing of leads is often too early, where the customer is still in negative equity or too late where no contact has been made with the customer for a number of years.
“Using CAP valuation data, we will monitor vehicle valuations each month throughout the period of the customer’s loan agreement. The CRM software will also track monthly loan settlement figures using standard settlement algorithms provided by the Consumer Credit Act. These two factors will provide dealers with the means of scientifically identifying precisely the correct time to contact their customers to discuss renewing their existing vehicle.
“The quality of the lead data will be first class and the timing of the leads will also be at the correct point within the customer’s period of ownership. Essentially, customers will be able to renew their existing car without having to increase their monthly repayments. These factors will give significant confidence to the dealers and enable them to speak with their customer about very real renewal opportunities.
“We chose to work with CAP because they provide the right information for us in a format we can integrate into our software with ease. Whilst other providers do exist, CAP lead the way in their field, so the choice was straightforward.”
CAP’s Mike Hind said: “We are always delighted when great ideas are brought to life with the innovative use of CAP data. At a time when dealers need to be as smart as possible in their marketing and lead generation, the Car Finance Renewals CRM tool is a great solution to optimising and fine tuning approaches to customers to retain and renew profitable business.”
For further details of Car Finance Renewals Ltd or to arrange a software demonstration visit www.carfinancerenewals.com