06 Jun The Future of the Industry: Rideshare Financing & Service
Rideshares are now dominating taxi services and increase in popularity by the day, this increase in ride demand means an increase in drivers. Many of these drivers will need a new vehicle to meet the specifications of each rideshare service- typically newer vehicles with regular upkeep. Both Uber and Lyft have created special lease financing options for drivers that base eligibility on the history of the driver rather than typical qualifying data like credit scores or steady income. Though some claim they are a miracle, these lease options have been called predatory and dangerous for under-qualification and high rates. Many argue that financing a car purchase or lease through a dealership would be a much safer and affordable option for rideshare drivers, and we tend to agree.
Market to rideshare drivers.
If your dealership isn’t already, now is the time to market to rideshare drivers. Not only can you guarantee that they will need vehicles, you can almost certainly know that any advertising you place on roadways will get seen by them. Help educate these drivers on what they can afford when it comes to their vehicle, especially in monthly payments. If they can see the return on value, they will buy.
Service, service, service.
Once you secure the rideshare customer for a car purchase or lease, make absolutely sure you are giving them the best possible customer service experience. Likely, they will need much more frequent service than your average customer because of the amount they drive their vehicle. If you can establish yourself as a hub for rideshare drivers, you can shape your dealerships’ place in this ever changing future.
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