Credit Based Car Buyers

Car Loan

The more I read about negative equity the more apparent it is just how large the pool of vehicle buyers are completely under water in their auto loans. The more dealerships I visit, discussions are more widespread about incorporating hooks aimed at credit into both our traditional and digital advertising. While the economic outlook for 2017 looks very positive, dealers have a real need to understand the credit mix of today’s shopper and what it will take to turn these shoppers into buyers.

When crafting a message, it is not just important to focus credit aimed ads towards used cars but equally as important to base your offers toward new car buyers. Especially during the months of January and February which many dealers refer to as “sluggish”. The dealers who are very good at mining poor credit and getting deals put together are the ones who come out of the gate in a new year with a better start.

Many people think that the key to attracting bad credit buyers is better done through direct mail, however, digital and traditional media can be equally as effective in creating credit traffic. Digital executions range from paid search activity targeting auto loan approval, display ads, video pre-roll and email marketing. Traditional media components work as long as the message sells the fact that you can get people bought with less than perfect credit. Traditional media used to be more dependent on the time and station that a credit message was targeted. Today with the growing sector that has bad credit, you are less handcuffed to run only on programming that was historically thought as credit based programming.

In preparing for the future you have to not only know the best way to target your buyers – you have to know what they will look like from a credit standpoint.

About the author

John Paul Strong: As owner of Strong Automotive Merchandising, a company that increases traffic up to 1,000% for dealerships, Strong lives by the simple concept that your attitude affects your success. Without a positive mind set he would not have been able to grow the company over the last decade from just 10 to over 80 full-time employees. The rapid growth is thanks to his ability to keep the company on the forefront of technology, market changes and an infectious talent to motivate and keep employees striving to fulfill their potential. His beginnings in direct mail gave him the tools and skills to develop incredibly successful marketing plans. From there he moved on to traditional forms of media and has now mastered the dynamic world of digital and social media advertising. With over 150 dealers to please, Strong takes a hands-on approach and personal attention to detail in all aspects of marketing strategies. His expertise in plan development gives him a keen sense on how to maximize a dealer’s budget and ultimately increase their bottom line. Strong is a passionate speaker in the automotive industry. He has authored two books on creating next day traffic. He graduated from the Executive Education Program at the Harvard Business School. Strong received a B.A. in Communication Studies from the University of Montevallo. He lives with his wife and three children in Homewood, Alabama.


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