Did you know that, according to a survey of credit activity across the U.S. conducted by Fair Isaac, a large percentage of American consumers have blemishes on credit reports? The year-end data from 2007 U.S. Foreclosure Market Reports shows that there were a total of 2,203,295 foreclosure filings across the country. Thats up 75 percent from 2006! And listen to this-just under half of American consumers have been reported late on loan payments in their credit report. What is to blame for all of these financial failings? Its not what, but who. It is not interest rates or inflation, but peoples general lack of good judgment and caution when spending. How is this going to affect your dealership? It can affect your dealership positively, if management is prepared to assist this growing number of special finance, credit-challenged consumers.

It should not surprise you to learn that the thirty-something generation has racked up the highest debt ratio in the history of the American economy. It is not just doom and gloom, however, there is hope for a better future for both the financially-challenged buyer and the automotive retailer.

These consumers need to improve their credit rating- everyone knows that one prescription for bad credit is to buy a car and make regular payments, so credit-challenged consumers are always willing and eager buyers. They do not, however, have the luxury of bank financing, and as a result have to seek alternative methods to finance their purchases. This is where your dealership can be a part of the solution.

With the vast majority of todays car buyers, including special finance customers, turning to the Internet to begin their buying process, it only stands to reason that the special finance market holds enormous sale and profit potential through targeted digital marketing.

According to statistics from a study conducted by CNW Research, the special finance or subprime auto lending market accounts for one-third of the overall finance market. To put it simply, one out of three buyers coming into your dealership will have difficulty securing a traditional car loan due to bad credit scores and/or bankruptcy, but surprisingly, only a small portion of dealerships actually specialize in catering to the credit-challenged buyers.

Aggressive dealers are using a combination of traditional marketing, integrated with targeted bulk mailings, paid search marketing, URL branding, and micro-sites to capture the iffy credit buyers. Tracy Myers, owner of nationally acclaimed Frank Myers Auto Maxx, prefers to take matters into his own hands with regard to generating leads from the special finance market. We actually created our own lead provider, explains Myers. Myers Auto Maxx implemented and markets a micro-site to attract and capture leads for financing. The response has been overwhelming, adds Myers. FrankMyersAuto.com promotes their popular Everybody Rides Program, complete with Three steps to credit made easy! With a powerful and innovative CRM tool, dealerships can manage Internet or other prospective leads, communicate through real-time email responses, collect and work a prospects credit application, and process the application electronically.

When planning a digital marketing strategy to capture the special-finance market, the following attributes are key to attracting automotive consumers who opt to secure their financing electronically:

·- Convenience-First and foremost is flexibility and privacy.

·- Security-Ensure the confidentiality of your online customers personal information.

·- Simplicity-Make it straight-forward and easy to use.

·- Helpfulness-Provide on-screen aids, easy to access worksheets, and finance calculators.

·- Accuracy-Integrate error checking processes to eliminate delay-causing mistakes.

·- Adaptability-Present questions that apply only to the consumers request.

·- Speed-Provide real-time credit processing.

With the boom in online borrowing, people with good credit and people with credit problems are both finding that securing financing over the Internet is a great way to regain control of their finances and to get the money they need quickly and conveniently. Successful and innovative dealers are not only willing to work with these eager consumers to secure financing and get them into a new or used vehicle, but are actively and aggressively seeking out this demographic.

Daymond Decker is the product manager for ADP Digital Marketing. Please email This e-mail address is being protected from spambots. You need JavaScript enabled to view it or call 830-200-9122 for more information.