Providing the very best service to you and your customers, and getting you paid is our focus. Here are a few examples of how that focus turned into results.
Creating a New Stream of Revenue for a Dealership
Challenge: The process to turn a customer over to F&I from the service lane was a hassle, and manually signing a customer up for a VSC was a low priority for service advisors. The revenue stream was virtually non-existent.
Solution Delivered: Budco Financial recommended that they utilize its Service Lane VSC Sales Tool. The tool enabled the dealership to control down payment and payment options.
Results: After adopting Budco Financial’s Service Lane VSC Sales Tool, the dealership began consistently selling 10-15 VSCs each month—generating an added $8,000-$12,000 incremental gross profit per month.
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Dealership Selling Vehicle Service Contracts Online
Challenge: Using their previous special financing source, only 50% of prospective service contract purchasing customers were receiving credit approval, leading to lost sales opportunities.
Solution Delivered: Budco Financial integrated its Installment Payment Plan solution into the dealership’s online service contract selling website.
Results: In a 6 month timeframe, the dealership’s vehicle service contract sales with an Installment Payment Plan increased 400%.
OEM Customer Cancellation Process
Challenge: OEM's experiencing a high rate of customers defaulting on service contract payments.
Solution Delivered: Budco Financial developed a 7-step proactive consumer communication process to focus on minimizing service contract cancellations.
Results: Annual savings of over $3.5 million in customer default service contract cancellations.
OEM Electronic Contracting Solution
Challenge: OEM dealer network experiencing a high rate of contract errors due to manual submission of contracts.
Solution Delivered: Budco Financial designed and implemented an electronic contract solution to automate the dealership process and reduce errors.
Results: In a one year period of time, generated 63% e-contracting utilization which reduced overall errors by 38% and increased dealership time efficiency approximately 67%.