Making Vehicle Ownership Affordable Again with David Engelman CEO of SmartPay

Ninety five percent of Americans get paid weekly or biweekly, but almost every dealership still offers a monthly payment on the first pencil sheet. In this episode of FWRD, Corey Smith and Erick Jauregui sit down with David Engelman, founder and CEO of SmartPay, to break down why that mismatch is costing dealers money and costing customers deals they could have closed. Engelman explains how a payment option that matches a customer's actual pay cycle leads to less back and forth at the sales desk, an average of $1,000 more in gross per deal, and 1.5 additional finance products sold per customer. The conversation goes beyond the sales desk. Engelman ties affordability directly to the negative equity crisis facing dealers today, explaining how faster loan payoff gets customers into a better equity position and back into the trade cycle sooner. For any dealer principal, GM, or F&I director trying to solve today's affordability problem without cutting into gross, this episode is worth the listen.