Auto dealers affiliated with GMC and Chrysler are shutting down left and right...time to freak out? Not quite...it just means that your dealer network is going to shrink and you are going to see more mega dealers who sell these brands in your market.
If you were getting 10 applications a month from 10 GMC dealers, you should likely see well over a 100 hundred applications from one GMC dealer. This is going to pose some challenges to your program, first being that your remaining GMC and Chrysler dealers are going to have considerably more clout now that they command the market share. If you haven't invested in a software program that can control the quality of applications and consistancy of your paper, its now or never.
This is the time to get out there and start working that relationship hard and find out what areas the other lenders are weak on and see if you can be their primary resource for loans.
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