Whether they lease or finance a new vehicle, the deciding factor for the majority of consumers ultimately boils down to the monthly payment, according to Norm Ferenz, president and partner of Norman & Co.
“While doing whatever it takes to lower that monthly payment makes sense when they sign the deal, it can catch the consumer off guard if the customer’s new vehicle is stolen and not recovered or deemed a total loss as a result of an accident,” Ferenz said.
To help remedy this, Ferenz’s company intorduced the Classic Deposit Allowance Membership Program, which takes the customer’s initial deposit and applies it to a replacement vehicle at the original dealership.
“Customers get to use their initial deposit a second time. It’s a win for the customer and a win for the dealership,” he said.
For additional information regarding the Classic Deposit Allowance Membership Program, contact Marty Battista at 1-800-930-4633.