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In my last article I talked about using Google AdWords and Bing Ads pay-per-click to drive customers to your website. One of the biggest complaints I get about Internet leads: Customers not having the money to fix their car.

A recent “call shops as a customer” study found:

- Around 65% of transmission shops are quoting at least a ballpark price for rebuilds on the phone.

- Around 80% of general repair shops are quoting ballpark prices for a reman or used unit installation.

- Around 40% of transmission repair shops offer no form of financing options.

The price range for a transmission rebuild or replacement is not a mystery to the Internet shopper. There are websites that give approximate cost information for used, rebuild and reman pricing online. Simply search “transmission repair cost” for an example. $1,800 to $3,500 is what shows up immediately.

An estimated 60K-80K visitors or more in the U.S. see this pricing on a monthly basis, based on search engine estimates. So the Internet shopper already knows, before they call around, what it is going to take to fix or replace a transmission.

When a customer knows up-front they cannot afford repairs using cash or a credit card, and you do not offer financing options on that initial phone call or on your website, they more than likely are going to keep shopping until they find someone who does. A customer without cash or available credit is going to consider used transmissions options or trade-ins if there are no transmission shops available to finance them.

Consider a $2,400 transmission repair: That amount can be tough for many to come up with (cash or available credit). They may call you, they may even set an appointment, but they may not show up for that appointment if a competitor offers financing.

In 2015 there are multiple options for financing, each with their own advantages and disadvantages. In our 2015 Marketing Survey that went out in January, we asked you who you were using for financing. These are the main financing companies used by transmission repair shops today in 2015:

- Synchrony Financial/CarCareOne

- Springleaf

- Cross-Check

- Easypay

- Globalcheck / ARC90

- Secure Payment Systems

- Local Title Loan

- In-House

Any financing program will have its various approval rates and details–but by having at least one or two financing options to mention on the initial phone call will result in more appointment show-ups and more completed vehicles.

As a manager, you should be familiar with the financing options, mention them to every customer, and make it as easy as possible for customers to get financed. If a customer mentions money troubles, you should get them processed and approved right away-before that customer starts thinking about other options.

Debt consolidation finance is specifically designed to overcome the problem of managing finances. Debt consolidation finance being the part of the debt management program helps to eliminate the debt problem by consolidating them.

Before going for a debt consolidation finance the person should preferabily consult the credit advisor. The credit advisor will evaluate his financial status and his problem of debts. After a thorough study on your status he will recommend you whether the debt consolidation finance suits you or not. If he gives you a positive answer that debt consolidation finances is the best solution for your problem. Then the person should avail it for coping up with his debts. Otherwise he should find another way to deal with his debts.

Consulting credit advice doesn’t mean that the person should totally rely on credit advisor. He himself should also evaluate his position and understand his problem. And ask himself whether the debt consolidation finances will suit him.

Debt consolidation finance helps the person to keep the positon of finances healthier, that is well managed. It is a sort of fitness center for finances of a person.

It also tries to guide the person regarding each and every aspect of money management.
Generally the lending company providing the debt consolidation finances, also provide the counselling on debt management. Just through a single convient monthly payment, the lender pay out to your creditors on your behalf. Lender also negotitate with the creditor for possible reduction in amount of debt. This reduction basically lies in:

oFinance charges

oLate fees

oMonthly interest payment

oOther miscellaneous cost

Since the reduction in the outgoing of money will let the person to save more money for his needs of the future.

Debt consolidation finances can be secured or unsecured. In secured, the person has to keep the collateral with the lender. Collateral is one of the reasons, which makes the debt consolidation financing cheaper, and also enables the person to pay lower rate of interest as compared to the unsecured debt consolidation finances. On the other side, in unsecured debt consolidation finances the person is not required to keep any sort of collateral. But, in return of that the person pays high rate of interest as compared to the secured loan.

The person should keep in his mind that going for secured debt consolidation finances can keep his collateraral at risk, if he has any doubt on his repayment ability. In this case, he should preferably go for unsecured debt consolidation finances. But this doesn’t mean that in unsecured finances, he is safe. A legal action can be taken by the lender in order to realise the payment.