Lenders want loyal dealers
The writer has worked in indirect automotive finance for more than 30 years.
To the Editor:
Regarding "Dealers, lenders: A working relationship" and "What dealers want from lenders" (Dec. 10): Any dealer that has nine to 10 lenders just does not get it.
Today, lenders want loyalty from dealers as well. The captive finance arms drive business back to the dealership. Based on the open market for cost of funds, a captive must leverage floorplanning, auction sales, volume penetration and extended service contracts to be competitive.