Posts Tagged ‘how to target BHPH customer

14
Jun
11

BHPH Customers & the Opportunity with Credit Repair

At the National Alliance of Buy Here, Pay Here dealers conference in May, AutoTrader.com shared the results of a study that they had done regarding BHPH. Study found that BHPH customers are also interested in rebuilding their credit so BHPH dealers that aren’t reporting data to credit bureaus are missing out on opportunities with these customers.

To read more about this in Used Car News, please click here.

26
May
11

BHPH customer vs. Traditional buyer characteristics

As we would probably guess, there are a few differences between a traditional buyer and a Buy Here Pay Here customer. At the recent NABD conference AutoTrader.com shared the results of a special BHPH study. One of the things they discovered is that 81% of BHPH customers do “some” to a “great deal” of research before buying a vehicle and although they use the internet just as much as traditional buyers, their car research is not done online. This makes for a pretty big opportunity to target BHPH customers with the right message said, Howard Polirer of AutoTrader.com. Since the BHPH customer is most concerned with finding financing first, that should be the focus of advertising if you want to target BHPH customers. The following are some of the characteristics of the average BHPH customer compared to your average traditional buyer:

  • Higher percentage are female
  • Average age is younger
  • Annual income is less
  • Lower percentage are married
  • Lower credit rating (poor credit rating)

To read the full article in SubPrime Auto Finance News, please click here.




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