- Home
- Inventory InventoryBody Type
- Services
- Easy Approval
- Why Choose Us?
- Testimonials
- Make A Payment
- Company Info
by Admin - Posted 1 month ago
It sounds funny, doesn’t it? Why would a business be glad when its repeat customers start to drop off? The answer might surprise you.
When a customer walks onto one of our lots, it usually means one of two things. First, that they’re just getting started out building their credit. This means that they’re new to borrowing money for a major purchase without a history of repaying their loans, and no one else would give them a chance to prove themselves. The second reason customers come to us is that they’ve had problems in their lives, sometimes through no fault of their own, that have wrecked their credit and forced them to rebuild. And while there’s always going to be those new-to-credit customers looking for their first chance, the number of customers we see in the second category is sometimes a sign of a down economy.
Many dealerships across the country are experiencing slow sales. What a lot of it likely boils down to is that it’s just harder to get approved for a loan nowadays. Even with Federal Reserve lowering interest rates, many lenders (like banks) haven’t reduced their rates to match. The extra interest they earn by not dropping their rates helps pad their revenue and make up for any bad debt they acquired in the past. And on top of all of that, lenders continue to remain strict on the front end, demanding higher credit scores and higher down payments for you to qualify for a loan.
At Cincinnati Auto Credit, our business is designed to serve those in need of a first or second (or third) chance. We haven’t changed over the last few years, and we still offer the same reasonable down payments. We also have compassionate staff trained to hear your story and help you figure out what you can afford to set you up for success. Try getting the same treatment from filling out an application form online! It’s hard to make your case to a computer that only sees you as a number.
When a customer visits one of our stores, perhaps experiencing credit problems for the first time in their life, we listen to their story. They’re often frustrated with their situation. We assure them this is just for now, something to keep their life on track. When these customers repay their loans and we don’t see them again, we’re happy to have given them the chance to carry on with their lives.
This page has been visited 0 times since January 02nd, 2025
Cincinnati Auto Credit has been visited 26,038,369 times.
