Results have shown that Autoland's expertise benefits credit unions of all membership sizes. Implementing Autoland's Best Practices is a great way for all credit unions to make the most of retaining direct loan dollars that flow through Autoland.
New auto sales are still projected to reach 14.5 million units this year, and new auto loan balances for credit unions continue to grow for the first time since 2007. Dealer groups continue to post increasing profits, both in the vehicle price, and more notably in the F&I office, where members are paying too much for aftermarket products such as GAP or Mechanical Breakdown Protection. In fact, the nation’s largest dealer group recently announced that gains in F&I contributed more than half of their total increase in gross profits (according to Automotive News), up a whopping 20 percent in Q3 for a record quarterly level of $1,290 per car.
Now's a great time to let Autoland help your members save on their next purchase and help your credit union capture more direct loans by providing a better car buying experience to your members.