A Budding Relationship

When it comes to an ongoing relationship between a dealer and his customer, where does the lender come in?

Though financing is and should be a top priority for an internet consumer particularly, getting a fair deal overall could rank higher in the consumer’s mind, according to Carolyn Crafts, vice president and chief marketing officer at Cars.com. That fair deal includes building a relationship with the dealer even after the car is purchased.

“What we see often times with a new vehicle [purchase] is that [consumers] will look at the reviews of the service department because the consumer may want to continue that relationship with the dealer,” she said during a conference held in Austin last month. Having the ability to extend that relationship adds to the transparency that a consumer strives for, she added.

For Chris Markey, internet sales and finance manager at BMW of Austin, making it known that his dealership will be there for its consumers is extremely crucial and is completed through online outlets.

“We spend an exorbitant amount of funds creating a wonderful place for our customers so that they can perceive how the relationship is going to go after they make that purchase,” he said. “We try to paint that picture for them and I think that’s very important.”

How big of a roll do lenders play in ensuring that their dealer partners are doing what they should in creating a long lasting relationship? Does it reflect badly on the lender when a relationship sours?

Just this week, I came across this article where a couple is not only suing General Motors for a vehicle they claim is “defective,” but the lender, Capital One Auto Finance, is also named on the suit. The couple supposedly brought the car in for service multiple times, but the dealership failed to fix the problem. 

AutoFinanceNews.net‘s calls to the lawyer for a copy of the complaint and reasons why the lender was named were not returned.