Are you offering non-prime recreation loans to your customers with credit challenges? If not, you’re missing out on a big opportunity to increase sales and improve your bottom line.
According to a report from Prosperity Now, 56% of consumers have a low credit score that disqualifies them from prime interest rates and possibly financing altogether. The report also states that many Americans earning between $55,000 and $90,000 annually have less than three months savings set aside.
The reality is that many Americans are one disaster away from major financial struggles. Your customers with credit challenges may have already experienced one of these disasters in their own life. That’s why it’s important for your dealership to offer financing options that benefit people trying to build or improve their credit, especially if they’re recovering from harder times.