Archive for the ‘Infographics’ Category

5 mistakes to avoid when submitting deals to Santander – and a checklist

Don’t get burned when the heat is on.

That means doing what it takes this summer to get your deals through the funding process and keep business flowing smoothly through June, July and August.

No matter how challenging the sales environment is, especially for new cars.

Meanwhile, Santander Consumer USA (SC) will be working hard to ensure that tens of thousands of contracts to finance new and used vehicles are processed efficiently this summer to keep you on track.

The goal at SC is to have complete contract packages funded within 24 hours. Yet, with so many contracts there are bound to be small hiccups here and there.

For example, calling about a contract before 48 hours has passed actually slows processing of contracts to all dealers, and will not move the caller’s package ahead of others that have been in house longer. But you can get updates through the Dealer Extranet 24/7.

Otherwise, here are the top five mistakes some dealerships make and you can avoid so you don’t slow down the process when submitting deals to SC funding:

We can’t get in touch with the applicant

When funding receives a deal, chances are that some information will need to be verified before the deal is given the green light. If funding doesn’t have the correct contact information for your customer, the deal can’t be finalized. It’s critical that phone numbers and/or contact people are correct so that funding can reach them if necessary.

Submitting incomplete contract packages

Our funding team can’t complete your deals until all of the documents in the package are received. By using SC’s funding checklist below, it’s easier to ensure your funding package is complete.

Approval terms don’t match the contract

If multiple approvals have been received for the same customer, double-check your documents to make sure the correct approval sheet is attached to the contract package. In addition, check with your buyer before making changes to the approval terms. These two steps can save a significant amount of time and confusion once the package hits funding.

Income is not verifiable

Reviewing the customer’s paystub prior to completing and submitting an application can save time down the road. A lot of customers will provide their net income versus gross, and some just take a wild guess when completing a credit application. Request a check stub from your customer, and review it with them to ensure the proper monthly income is entered on the application.

Vehicle value does not match the approval

If a customer changes his/her mind about which vehicle to purchase, it’s critical to update the vehicle with your buyer. Send an update via Dealertrack or RouteOne alerting your buyer to the change, and get an updated approval so there won’t be issues that delay your funding. You also have the option of updating the vehicle in our Rehash Tool. Just log in to the Dealer Extranet to update your structure for a quick look at changes that will affect your deal.

Summer provides a wealth of opportunities to boost your bottom line to the top of the charts. So don’t let small pitfalls keep your dealership from achieving your goals.

If you have questions, contact SC funding from 8 a.m. to 7 p.m. CT, Monday through Friday, at or 800-877-4696.


These six things could help ensure a successful summer

Summer is a great time to set up your dealership for a successful 2019.

Memorial Day is in the rearview mirror, but Father’s Day, July 4, and Labor Day are still on the calendar, which means there are a lot of opportunities to heat up your results. However, that also means ensuring your applications for financing have the best chance of approval by Santander Consumer USA.

That’s where our best practices could factor into your calculations for summer and the rest of 2019. As always, your Dealer Relationship Manager can fill in the details.


021419 IL Checklist is the key to your 2019 tax season sales results

10 things your team needs to know about the Dealer Extranet

The Dealer Extranet should be part of your team’s everyday arsenal.

Fast and user-friendly, it is the best way to enhance your business with Santander Consumer USA (SC) – and make more money.

From the Rehash Tool, which provides the quickest possible turnaround time on new deal structures, to a customized dashboard that offers daily stats, notifications and reports on your deals with SC, the Dealer Extranet is designed to empower dealers to compete more effectively.

Those aren’t the only reasons, though.

“One of our greatest assets is our Dealer Extranet, especially for high-volume dealers,” said a dealer relationship manager (DRM) in New York.

“The ease of use and the multi-functionality of it, from rehashing an application to funding, allows my dealers a fast, user-friendly experience from application to funded. I stress the importance and use of the Extranet with all my dealers … [and] they usually see the light.”

In fact, thousands of dealership sales associates already have recognized the value of the Extranet and use it to maximize their results with SC and to manage their businesses better.

You can make the site an integral part of your dealership’s routine by asking your DRM to set up a new user login – or logins for multiple users at your store. Your DRM also can help you discover – or rediscover – the many features the Extranet provides your activated account. Your DRM also is available to answer any questions that might arise or to reset your password.

When you’re set up on the Dealer Extranet, you can log in here and use it whenever you want. And put the power of the Dealer Extranet in your competitive arsenal.


10 tips for using the Extranet

When was the last time that shoppers beat a path to your showroom?

It’s all in the numbers.

The Preapproved Direct Mail Program from Santander Consumer USA is making an impact for participating dealers across the country.

Results include a higher-than-average response rate, strong incremental sales and outstanding ROI.

“My store runs a 6,000 Santander direct mail piece every 30 to 60 days,” Jeff Belsky of Benson Hyundai in Spartanburg, SC, said recently. “Lead generation has been through the roof, with unprecedented numbers of leads and prospects increasing with each run.”

“The mailer was extremely successful and profitable for the store,” said Timmy Dickinson of Lia Hyundai in Enfield, CT. “It generated 63 leads, which resulted in 38 shows, 14 sold and a profit of around $30,000. It was our best used car month in a long time!”

The direct mailer is not a “weekend barn burner,” because leads will continue to come into your store for up to 90 days after the mailer drops.

There’s a lot to consider, including additional results, so we created the following infographic to help:


030719 IL When was the last time that shoppers beat a path to your showroom (1)

The RoadLoans advantage: Connecting your dealership with motivated buyers

RoadLoans is all about helping dealers maximize sales opportunities.

From the online dealer Lead Exchange Program to the direct-to-consumer lending program, RoadLoans’ mission is to connect dealers with motivated buyers.

The Lead Exchange Program (see infographic below) provides your dealership the opportunity to bid for approved-customer leads that are 100 percent exclusive to your business, giving you the opportunity to get more ready-to-buy shoppers through your doors each month.

No subscription is required to participate in the RoadLoans Lead Exchange Program – your dealership can turn it on and off at your discretion.

Through the direct-lending program, RoadLoans – and parent Santander Consumer USA (SC) – provides full-spectrum lending with competitive rates for qualified buyers: The typical RoadLoans approval has an average FICO of 577, income of $61,000 and is approved for financing up to $18,000.

RoadLoans also recommends to approved customers a qualified dealer in their area, and the dealer immediately receives an email notifying them of the approval and providing contact information. Direct-lending customers, however, are not required to take their voucher to the recommended dealership, so dealers should be sure to work their leads promptly.

For more details on RoadLoans programs and maximize your results through the busy tax season, contact your SC Dealer Relationship Manager.

022819 IL The RoadLoans advantage- Connecting your dealership with motivated buyers (1)

When you want to boost results …

15 ways to light up more deals in December and beyond

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Launching pad for success …

020917 IL The Right Stuff Six reminders to make this your best sales season yet!

Eureka! The refunds are coming


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