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Retain Customers After Their Vehicle Lease Expires

[fa icon="calendar"] April 15, 2020

2 minute read

It can be extremely difficult to retain customers who have leased a vehicle from your dealership. In many cases, once the lease ends, they return the car and you never see them again. They take their business to a different dealer. You lose out on a lease renewal or vehicle sale and all of the potential service revenue you could have generated.

Recognizing this issue, the makers of TEXT2DRIVE™ incorporated the lease expiration feature into the full-featured texting communications platform.

Get Customers To Commit

TEXT2DRIVE sends an automated text message to a customer 90 days before their lease is up. By using this alert, you improve your dealership’s chances of getting them to renew their lease, upselling a more expensive lease or selling them a car.

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Reap The Benefits Of Lease Renewals

Leases offer several benefits over new car sales:

  • Leases are a long-term source of revenue, whereas car sales are a short-term source of revenue.
  • Leases come up for renewal more often than the typical customer is ready to purchase a car.
  • Leases lock customers into a set term length, guaranteeing you can retain them during the term.
  • Selling customers on a small increase in their monthly payment is easier than convincing them to invest in a large purchase and go through the trouble of securing a loan.

Sell The Perfect Used Cars

Provided that customers follow the stringent terms set by their lease, the car they return should be in great shape to sell as a used vehicle. A vehicle that is under three years old has a low mileage and has been well taken care of is the ideal certified used car. It is very attractive to buyers in the market for this type of car. In this way, formerly leased cars offer yet another source of revenue for your dealership.

Leases are a largely untapped gold mine. Not only are they a great source of revenue, but they also improve customer retention by ensuring customers will get their vehicle serviced at your dealership. The lease expiration feature available on TEXT2DRIVE is a valuable tool to use for increasing the number of customers who renew their lease. If you can get just one customer per month to renew their lease or purchase a vehicle, it will cover the cost of TEXT2DRIVE.

Generate More Lease Revenue

Topics: Auto Dealerships, Effective Communication, Improved Communication, Increase Revenue, Customer Satisfaction, text messaging, better communication, text communications, sales department, cost of communication gaps, external, internal, build trust

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