One of the biggest complaints people have about needing to get a new car, truck, van or SUV is that it takes forever.
At Russell Smith Auto, we try to not take so long. We are Buy-Here Pay-Here, so we’re getting through the approval stage pretty quickly. We don’t have to dicker with and wait for a bank because we do the underwriting in house. So we are able to streamline the process pretty well.
As long as the customer has everything that they need and the documents that we require, getting someone into a vehicle doesn’t take very long.
If the customer makes sure that they bring their driver’s license or ID, proof of residence, which is a utility bill or a lease, three current check stubs from their job, and six references. We also use the references to get in touch with the customer if the payment is late and we can’t reach them for some reason.
One issue with check stubs that customers sometimes run into and that can be taken care of ahead of time is that they have automatic deposit and don’t have check stubs. A lot of times they don't know how to get that information. But our salespeople will help them figure out how to do it. They can use our computer, sometimes they have to call their HR department or something to get in and get that information.
If the customer brings all those things, they'll be in real good shape to get the process going. Then we’ll take a look at what they can offer for a down payment and go from there to get our in-house financing set up and get them into a vehicle pretty quickly.
Another way to speed up the process is to fill out our online application form. A salesperson will contact the customer and go over any questions on the form and get everything ready for them to come in.
What takes the longest time really is to test drive and pick the vehicle that they're interested in. I think we do a pretty good job of streamlining that process because we know our customers have taken time off work or away from something else, or have some place to go. We try to get them through the process as quickly as we can.