The majority of your lease customers are shopping early: The average GM Financial lease vehicle is returned at 91% of the contract term and is only 3 years old with 29,000 miles. When a lease customer returns to your dealership, you have a perfect opportunity to get them into a new lease.
These tips may help:
- Use your retention tools
Your customer may have received a brand pull-ahead offer, meaning he or she is eligible for GM Financial’s loyalty program. These tools are specifically designed to help you retain customers.
- Close the deal
With lease exclusivity, you’re able to offer your customer subvented lease rates. Combined with Dealer Dividends 2X CCR, you can make it easy for the customer to lease a new vehicle.
- Turn one customer into two
Once you’ve got your customers on their way in their new leased vehicle, it’s time to take advantage of the tools you have to earn another customer. With the right processes in place, that lease return becomes another sales opportunity for a customer shopping for a CPO vehicle.
Remember these benefits:
- If you floorplan with GM Financial, you can finance the lease return for 30 days with no interest.
- If your dealership certifies every CPO-eligible vehicle, you’ll receive a $2,000 book value adjustment ($2,200 for Cadillac) on the unit when you floorplan it with GM Financial and certify it.
- When you have a new buyer for that vehicle, you can offer exclusive CPO financing rates. You’ve now boosted your profitability by retaining a lease customer and gaining a CPO customer.
Talk to your GM Financial rep to make sure you’re taking advantage of every benefit to help you keep customers coming back to your dealership.