Rate Increases Got Your Loan Volume Down?
As interest rates increase and the mortgage market slows, many financial institutions are seeing a decrease in loan volume.
Our Stellar Auto Loan Recapture Program continues to perform extremely well for our clients.
Since 80% of all auto loans are originally financed at a dealership, dealers will continue to mark up loans, creating an ever-renewing bucket of potential households paying higher than customary rates.
The concept of recapturing auto loans isn’t new, but our program was carefully designed to go above and beyond our competitors to execute strategies with a proven recipe that drive results.
What Makes Stellar Different?
Think all auto loan recapture programs are the same? We’d love to show you the Stellar Difference.
Here are a few of the reasons why you should choose to partner with Stellar.
Loan Processing Department
Our in-house loan processing department is able to produce and package these loans to have them ready for booking. We are a SOC 2 compliant department that handles all the back-office steps to make sure your application is finalized correctly and in a timely manner. We take over after the initial approval and handle every step till the end, including filing the necessary title work to make sure your lien is perfected. We also offer GAP and Warranty products to help maintain the value of the vehicle throughout the life of the loan.
Unlike many of our competitors, The Stellar Financial Group offers both member and prospective member lead exclusivity.
There’s NO data overlap between clients. All results, reports, leads, and confidential information will not be shared with any other credit unions. Each credit union’s membership loan base is suppressed out of all credit union clients, to ensure no attrition from our program. No applications are shared with other financial institutions. Our enhanced data analytics ensures we are targeting the consumer most likely to respond, which results in higher response rates offsetting the reduction in viable prospects due to increased interest rates.
Inbound & Outbound Call Center
Our extended-hours concierge-level bilingual call center accounts for more than half of the applications received in any given month. Not having this capability can severely depress the volume of applications processed for funding, and more importantly, deliver a less than acceptable customer experience for your members. One in five of our applications received over the phone are from people that only speak Spanish. It’s safe to say, without bilingual representatives, you’re leaving a lot money on the table.
Our success-based fee structure has a solution for everyone. Our auto loan recapture program pricing is based on volume and tiered to compensate clients for producing higher volumes of funded loans. Our average client has a 50% look-to-book.
Regardless of whether you target high yield or high FICO consumers, we can develop a plan that makes an ROI work for your institution. Join our growing list of clients that enjoy a 200-300% ROI and are consistently in the black!