Whether it’s hurricanes or snowstorms, Mother Nature has a way of impacting our daily lives. No matter how much people prepare, they can be dealt a hand that turns their lives upside down. It can be as simple as your customer missing a week of work to the extreme of losing their place of work. Their home may be lost, their work may be gone but that doesn’t mean they have to lose their vehicle.
Once the storm has subsided, life may look different. Your customer may have a new job with a new pay schedule. It’s important that your DMS can accommodate your customers. This can be from a simple deferment to the payment schedule, to the slightly more complex – refinance.
For example, if a customer had to incur an unexpected bill such has a hotel room for a week, they may not have lost any income but now they can’t afford their next car payment. This would be an excellent time for a deferment. This allows a next payment to be moved out a few weeks or month or two.
Or perhaps, if a customer had to get a new job that pays them differently than the one they lost. They have gone from getting paid weekly to getting paid monthly. So now they need to switch their weekly car payments to monthly payments. This would be the perfect time for a loan reschedule. This allows for the rescheduling of payment plans from weekly, bi-monthly, semi-monthly, and monthly to any of the aforementioned.
Finally, if a customer had to get a new job where they make less and now their existing payments just don’t fit their budget. And if this customer has been a good loyal customer who had been making all their payments on time, then a refinance might be best. This allows for the adjustment of interest rates on loans.
Storms impact us all in many ways, leaving many in financial pain. Dealerships often do not have to add misery on top of pain. Luckily, Deal Pack has flexible options for its customers to work with their customers when it comes to dealing with payment schedules. Dealers know that a happy customer is a good customer. This can lead to customer retention to customer referrals. When a dealer works with its customers in uncontrollable times of crisis, good things usually come.