In a recent survey, the Philadelphia Business Journal asked drivers if they would allow a company logo to be printed on their vehicle in exchange for having their car payments paid.
According to the poll, more than half of consumers would go for this mobile billboard idea. Given that consumers aren’t typically tied to a specific lender, this marketing tactic could entice some loyalty. If you see a friend driving around the neighborhood with his auto lender’s name plastered on his vehicle, you might be more inclined to use the same lender for your next vehicle. Instead of lenders being a foreign force, this could add some name recognition for companies and allegiance for consumers.
How might lenders choose the lucky winner whose vehicle payments will be made? Maybe they could set up a contest where consumers submit videos or social media posts explaining why their car should be selected for the deal. This could be a beneficial way for lenders to get their names out there, too.
Below are the results of the survey, courtesy of the Philadelphia Business Journal.
Naming rights for your car
If a company paid your car payment, would you let it put its logo on the doors?
Yes 51%
No 18%
Depends on if I like the product or not. 31%
Votes Cast: 595
What do you think? Comment below!
