BillingTree’s Auto Finance Solution allows auto industry lenders to accelerate, streamline and automate payment processing and posting for car loans and leases. It also enables lenders to drive customer loyalty and maximize revenue potential through ongoing digital communications during the entire lifecycle of a consumer’s loan or lease.
Lenders can use BillingTree to deliver referral incentives, automobile trade-in or upsell promotions and other value-added services like extended warranties or service plans. BillingTree’s solutions enable consumers to make their loan payments securely using a mobile device, with the options to configure payment reminders, make partial payments, and schedule future payments.
BillingTree conducted a survey of the Auto Finance Industry on the payment collection operations of companies providing financing for the purchase or lease of automobiles.
Current Trends in Auto Financing: It’s Not All Rainbows and Unicorns
Did you know that new auto loan accounts are continuing to open at a rapid pace? Furthermore, balances for subprime accounts are increasing as more and more customers are being granted loans.
There’s no question that the auto finance industry is a colossal one. And the latest trends are predicting that it’s going to continue to grow and expand in the coming years.
But it’s not all rainbows and unicorns for everyone involved in auto financing. With its unpredictable delinquencies and debts, the industry isn’t necessarily without its imperfections.
BillingTree offers a suite of services and payment solutions that help you collect electronic payments through credit, debit, checks and ACH processing. Our services ensure safe, secure, competitively priced payment acceptance supported by in-house, top-tier customer service.
- PCI-DSS, SSAE-16, HIPAA compliant
- Integrated with the top software solutions
- Live, US-based customer support including fraud prevention and transaction monitoring
- Charge-back reduction
- Competitive pricing delivered by a comprehensive banking network