Expanded auto repair financing options gain traction - Automotive News
New auto repair financing tools are helping service centers close more deals as vehicle owners struggle with rising maintenance costs.
Curated by Financing Your Way from original reporting by Google News: DigniFi. Summary is AI-assisted and editorially reviewed — see our editorial standards.
Auto repair shops are seeing a major shift in how customers pay for high-ticket service work. As vehicle ages hit record highs and repair costs climb, expanded financing options like those from DigniFi are becoming essential tools for closing deals. For shop owners and dealership service managers, this means less 'sticker shock' and fewer customers walking away from necessary safety repairs. The data shows that when shops offer a range of credit products beyond traditional high-prime cards, they capture a tier of customers who have the income to cover repairs but lack immediate liquidity. Integrating these financing platforms directly into the service writing process is proving to be a game-changer. Customers can apply privately on their own devices. This removes the embarrassment of a public credit denial at the service counter. These programs are moving beyond simple 'buy now, pay later' models into comprehensive lending suites that cover a broader range of credit scores. By offering these options, your shop can increase its average repair order (RO) value. You also build long-term loyalty by helping customers keep their aging vehicles on the road longer. The trend is clear: financing is no longer just a perk for luxury upgrades; it is a necessity for standard mechanical repairs in the current economy.
Source: Google News: DigniFi
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