To increase application completion rates, auto lenders need to streamline inefficient processes that are frustrating potential clients and causing them to abandon their application. Below, are proven ways to end the time-consuming back-and-forth between lenders and borrowers.
Auto lenders are in for a bumpy ride. Car sales are declining, between 1.5% to -5% in 2018. This downward trend is expected to continue into 2019. In an increasingly competitive auto lending market, customer service and ease of doing business have become the two main drivers for people’s selection of a loan provider.