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First and foremost, make sure you have the inventory of vehicles on the lot to meet an increase in demand during tax season. Your vehicles should be in good operating condition, because the last thing you want is to sell a bunch of cars that stop working — resulting in a bunch customers who stop paying. Make sure you also have the people in place to serve your customers and work out the deals. And make sure you have your procedures in place so you can quickly arrange and secure a down payment, and work up a contract that’s a win for both you and your customers.
Performing your due diligence during tax season is paramount. Underwrite your deals just as you would any other time of year – without getting caught up in the rush to make more sales and without cutting corners. Make sure you’re continuing to verify STIPs and doing all you can to confirm that your tax season customers will be able to afford the vehicle they’re buying from you long after their refunds have been spent.
Your plan should extend beyond the tax season, too. Once you’ve gotten past the rush, the faster you can sell your loans, the faster you can restock your inventory. That’s where the GoldStar CMS GPS vehicle tracking system can help.
GoldStar CMS is now available with our convenient new Device Transfer feature. When you sell a loan to a lender, you’ll also need to transfer any GPS tracking devices installed in the vehicle to the lender. Transferring those devices to a finance company is a time-consuming hassle. You typically have to call the finance company multiple times, as well as send scans and faxes with the device information in order for one device to show up on a different user’s login. This takes about three to four days.
With our new Device Transfer feature, you’ll be able to condense that 4-day process into 30 minutes or less. Device Transfer automates the process of transferring a vehicle with an installed GoldStar CMS tracking device to a lender. In just a few clicks, the transfer is done. No more messing with paperwork, scanners and fax machines. Leaving you more time to sell more cars.
To learn how GoldStar CMS can be a vital part of your tax season plan, visit GoldStarCMS.com. And happy selling!
Vice President of Field Sales, ASG