iAutoPayment® is just one of many useful marketing tools Mudd Advertising is proud to offer. Thanks to a partnership with Allied Solution and Auto Financial Group, Mudd has been utilizing this residual-based finance (RBF) tool to help dealers by increasing their profits and customer satisfaction.
The idea behind Mudd’s iAutoPayment® is to benefit customers by offering them a 24- or 36-month balloon finance alternative when they purchase a new vehicle. The primary goal of this RBF procedure is to give customers the option to pay less on their monthly repayments through the lifetime of their loan—as much as 40 percent lower than traditional financing contracts. This method not only increases affordability for the customer, but allows their repayment of the loan’s principle to more closely match the vehicle’s value over time.
Since most people look into upgrading their car again after two or three years, iAutoPayment® allows car buyers to trade in their vehicle early without feeling like they lost money or value—and consequently blaming the dealership for their predicament.
With the help of Mudd’s iAutoPayment® tool, dealerships can maintain their customer loyalty through their continuous trade cycles while still turning a profit. It’s a win-win-win situation where the customer can continue to upgrade their vehicle without worrying about depreciation, the dealer gains the customers’ trust, and the participating financial institutions gain business through the dealership by offering a beneficial program for members.