What would happen to the auto leasing market if lessors really got creative with marketing on social media? Put another way: Could financiers use Twitter to lease cars?
Kraft Foods is testing the concept ― sort of.
The brand’s iconic Oscar Mayer Wienermobile is available for an eight-hour period in a contest on Twitter that ends Feb. 7. Wienermobile fans only need hashtag #Tweet2Lease. One winner will get hands-on access to the Wienermobile, with the vehicle’s drivers, known as Hotdoggers, serving as personal chauffeurs.
So far, the contest has been pretty popular, from what we can tell on Twitter Analytics. And, the tweets themselves have been pretty creative too.
Among the ones we saw today:
- New life goal: Ride in the #Wienermobile
- Would you #TweetToLease the Wienermobile?
- Its on my bucket list to drive around in an oscar mayers wiener truck with my best friend
- You May Be a Wiener, Er, Winner!
That’s cute and all, but what if lessors adopted similar marketing strategies with their newest models? There’s no doubt that leasing is hot in auto finance these days, and as inventories increase and dealers and others look for new ways to move product, creative marketing via social media might be a clever strategy.
“Being the first car available for lease exclusively on Twitter was far too big a distinction to go to any old sedan or sport-utility vehicle,” said Tom Bick, senior director of integrated marketing and advertising at Oscar Mayer in a press release.
What about eight hours with a brand new AUDI S6? You have to wonder how many tweets that would get from car lovers.
Default rates will be supported by strong used car values. If a borrower has owned a car for over 3 years and drove normal miles, they probably have some equity and will not let the car go to repo.
As for the economy, “We have met the enemy and the enemy is us”. This morning, China delivered the same message to us. A message we did not want to hear. But as the saying goes – The Truth will set you free! But first it may make you very miserable! It will test the credit administration skills of staff in Auto Finance to walk the line between intelligent lending and overly prudent risk control.