ACQUIRING AND RECAPTURING AUTO LOANS
To build a stronger auto loan portfolio by refinancing existing loans from other lenders or acquiring new loans.
This $100 million institution had a weak indirect lending portfolio and strong indirect lending competition. With a limited potential for new indirect loans, they needed a strategy that would generate ongoing leads.
The institution’s MARQUIS OnTrax strategist identified the average life of the institution’s auto loans as 24 months. An auto runoff program was initiated, sending an offer for a new loan to anyone whose current loan was 20 to 24 months old. The program was executed quarterly.
After 9 months (three drops), the client had spent $2,387 and generated 137 new auto loans for total balances of $1,628,359. Overall, the campaign generated $21,171 in profit equating to a total ROI of 787%.
MARQUIS MCIF | MARQUIS OnTrax | MARQUIS Creative