Car Loan Leads

Written by John Rooney
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Searching for reliable car loan leads? The first thing to do is identify your ideal target. Looking for 1^st time buyers? Trade-in buyers? Lease renewals? How about people you know are already applying for auto financing? Let’s take a closer look at each type of customer and how to find to them:

1^st Time Buyers

Identifying a 1^st time car loan lead takes part common sense and part inside knowledge. The obvious select is to target the people that you know don’t have a car. But that doesn’t mean they’re qualified to buy one. You also need to know they have an income, and are eligible for financing. Where do you find this type of data? You need to make sure the data comes directly from the credit bureaus (more on that to follow).

Trade-In Buyers

This is where inside knowledge really comes in to play. You want to know the type of vehicle they drive, when their existing loans are scheduled to end (or have ended), and what their payment history is. Wouldn’t it be great to pre-screen these buyers before you spend money buying car loan leads? Here again, is where access to real credit bureau data becomes the key variable in your selection process.

Lease Renewals

They say that once someone leases a car, they’re going to continue leasing cars. Similar to the car loan leads for the trade-in buyers, here you want to know what make and model they’re leasing, monthly payment of the lease, when the lease is about to expire, and what their payment status has been. You can find all this and more from the same source: by pulling true credit bureau data.

Auto Triggers

Imagine knowing for a fact that someone has just inquired for auto financing from another company. It’s called a “trigger” lead, and it’s another valuable piece of knowledge available through the credit bureaus. These car loan leads, if handled properly, can give you a great competitive edge. Trigger leads are a bit more expensive, and there is more competition involved, but it’s worth testing them as part of your overall marketing mix.

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Now that we’ve identified the target selections, the question becomes “what’s the best way to market to these leads?”  At Black Book Data, we have the expertise and resources to offer a full-range of services – from providing just the raw data to managing the entire process, including direct mail and live transfer programs. If you’re serious about taking your marketing to a whole new level, contact me today for your free, personal consultation. John Rooney john@blackbookdata.com 888-818-3282 x105