Car Finance Renewals partners with CAP to launch unique lead generation system
TUESDAY OCTOBER 16 – FOR IMMEDIATE RELEASE
A UNIQUE car sales and finance lead generation system for dealers, powered by CAP data, has been launched by Car Finance Renewals Ltd.
The company promises perfectly timed leads, based on the optimal moment for dealers to contact customers with offers to renew their car and finance while maintaining unchanged monthly repayments.
The system has been built as a web-based CRM tool and Car Finance Renewals Ltd chose CAP as its partner for future residual values, current used values, vehicle data and images.
Tim Wellman, MD of Car Finance Renewals Ltd, said: “The motor retail sector has typically missed out on millions of pounds in repeat business thanks to the traditionally unscientific approach to finance customer retention.
“This has been because the leads supplied back to the originating dealers tend to arrive with limited or partial information and are supplied at incorrect times within the customer’s period of ownership. The timing of leads is often too early, where the customer is still in negative equity or too late where no contact has been made with the customer for a number of years. These scenarios provide little encouragement to dealer sales staff when it comes to contacting their existing customers.
“Using CAP valuation data, we monitor vehicle valuations each month throughout the period of the customer’s loan agreement. The CRM software also tracks monthly loan settlement figures using standard settlement algorithms provided by the Consumer Credit Act. These two factors enable us to provide dealers with the means of scientifically identifying precisely the correct time to contact their customers to discuss renewing their existing vehicle.
“The quality of the lead data will be first class and the timing of the leads will also be at the correct point within the customer’s period of ownership. Essentially, customers will be able to renew their existing car without having to increase their monthly repayments or provide a further deposit. These factors will give significant confidence to dealers and enable them to speak with their customers about very real renewal opportunities.
“We chose to work with CAP because they provide the right information for us in a format we can integrate into our software with ease. Whilst other providers do exist, CAP lead the way in their field, so the choice was straightforward.”
CAP’s Mike Hind said: “We are always delighted when great ideas are brought to life with the innovative use of CAP data. At a time when dealers need to be as smart as possible in their marketing, lead generation and customer retention, the Car Finance Renewals CRM tool is a great solution to optimise approaches to customers and retain and renew profitable business.”
For further details of Car Finance Renewals Ltd or to arrange a software demonstration visit www.carfinancerenewals.com
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For further information contact Mike Hind, Communications Manager - CAP
Tel: 0113 222 2044 / 07710 152030
Twitter - @MikeH_CAP
Used car pricing and technical information from CAP has been trusted by motor trade professionals for more than 30 years. The company provides trusted and accurate pricing and technical information on cars, vans, motorcycles and trucks to the UK automotive industry every day. Founded in 1979 and based in Leeds (UK), CAP’s data and information systems serve clients across a broad variety of automotive-related sectors. CAP’s current used car values are used as the benchmark for residual values performance across the disposals industry and CAP Monitor is the leading residual values forecasting tool for the Contract Hire, Leasing, Daily Rental, Finance and Insurance industries. CAP’s new vehicle data system serves a broad variety of e-commerce, DMS, showrooms and asset management systems throughout the Retail, Contract Hire, Leasing, Finance and e-commerce sectors. CAP information also operates at the heart of many leading vehicle marketing websites and car sales portals, including Britain’s largest – AutoTrader – helping consumers safely make the best informed decisions about their purchase choices.
CAP - Capitol House, Bond Court, Leeds LS1 5EZ
Telephone: 0113 222 2000 Facsimile: 0113 222 2001 www.cap.co.uk
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