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Old 02-19-2010, 02:44 PM   #1
CL Pgh
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Question Direct Mail New Twist

Anyone ever hear of a company called, Expect Traffic or Go Financial?

They have an unusual twist to direct mail... and needless to say I'm skeptical.
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Old 02-20-2010, 06:50 AM   #2
ohiobuckeyes
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No. What is the "Unusual Twist" with their Direct Mailing?
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Old 02-20-2010, 08:46 AM   #3
CL Pgh
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Originally Posted by ohiobuckeyes View Post
No. What is the "Unusual Twist" with their Direct Mailing?
As short as I can make this… which isn’t easy.

Mail piece goes out to customers with: 660 fico or higher, 28mons min. into an auto loan of 10.99% or higher… in our specified zip code’s of course.

Mail piece revolves around refinancing the current loan & vehicle at a lower rate and lower payment… there’s nothing on this mailer about our dealership or a new/used vehicle.

Customer contacts company who gets the customer approved and re-financed through their own lending company. Company handles everything on the refinance from A to Z… THEN the customer gets the payoff check to send to the current finance company BUT is first required to bring the vehicle into our store for a service inspection of the vehicle to make sure the vehicle is in good condition and warrants the new lien.

Customer knows the service inspection is $149.00 payable to us by them before they step onto the lot.
We inspect and call any necessary repairs.
If customer cannot pay for repairs, the finance company reworks the loan and finances the repairs.
Customer cannot refuse repairs as it’s part of the lien process just like certification or a safety check.

While the vehicle & customer is here we get a crack at everything from:
Capturing the refinancing. (We can unconditional capture all refinancing)
Selling a warranty, gap, ect.
Selling a new or used vehicle.

I’ve spoken with two dealers that like and have done the program and both have said you’ll make as much money in service as you will in sales. They’ve also said the finance company will re-finance the service work and or after-sales immediately and without hassle.

BTW… this mailer is $2 per piece… very expensive in terms of a mailer but like I said before... an unusual twist. Anyone do anything like this before???
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Old 02-22-2010, 05:11 AM   #4
CUD
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Sounds like the perfect program.....for an Attorney General to make an example out of you in an election year. I'd stay far, far away.
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Old 02-22-2010, 06:09 AM   #5
CL Pgh
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Originally Posted by CUD View Post
I'd stay far, far away.
I’ve heard/seen about every piece of direct mail out there… but not this and that’s why I asked. Skepticism started this thread and we’ve all but killed the thought at this point anyway.
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Old 02-24-2010, 10:04 PM   #6
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CL - Thanks for starting the thread, I missed it when you first posted it.

While I share your skepticism I'm surprised I've never heard of this company or their proposal before. I did a quick Google search and the only thing I found of interest was a PDF document that appears to be their Order Form/Dealer Agreement. Here's the link to the PDF document - click here

In my opinion, the concept of targeting customers with high interest rate loans and reviewing better alternatives sounds appealing. The fact that the customers may need to have mechanical repairs performed before they're eligible for a lower interest rate loan sounds edgy.

I wonder where they get their mailing list? It's one thing to generate a list of customers with existing title liens, but how would they know the interest rate of the loan?
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Old 02-25-2010, 05:16 AM   #7
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I wonder where they get their mailing list? It's one thing to generate a list of customers with existing title liens, but how would they know the interest rate of the loan?

It's easy to calculate the APR. Give me the term, loan amount, payment and an old HP calculator and I can figure out the APR. Actually with my HP give me any three of those four items and I can figure out the fourth. :shades:
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Old 02-25-2010, 08:12 AM   #8
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Originally Posted by CUD View Post
It's easy to calculate the APR. Give me the term, loan amount, payment and an old HP calculator and I can figure out the APR. Actually with my HP give me any three of those four items and I can figure out the fourth. :shades:
I can understand the math but I still can't figure out where they get enough data to perform the calculation. A list from the DMV (if it's even available) is only going to list who the lien holder is - how does the company find out the loan amount and length of the loan?

Maybe they're getting the data from the Credit Bureaus?
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