Typically dealerships would wait for customers to get their tax refunds or other forms of financing before they would have enough funds to put up and down payment on a vehicle. Now there are several new ways for these independent dealers to entice these costumers even if they don't have the same amount of funds they would once need.
About a year ago, the National Independent Automobile Dealers Association (NIADA) entered into a strategic partnership with DriveItAway, a current NIADA National Member Benefits partner.
DriveItAway can provide NIADA members with the tools to offer a subscription model car sharing platform. The partnership with DriveItAway adds seamless turnkey self-service software, all insurance coverage and training to allow dealers to quickly and profitably add a cents-per-mile model to the traditional one car sale/one profit scenario.
NIADA members using DriveItAway’s turnkey program can also offer the Lyft Your Down Payment program, which provides new Lyft drivers with immediate temporary vehicles to drive at a daily or weekly rate as a path to ownership, allowing them to raise money for a down payment to buy the vehicle of their choice — offered by the participating dealership.
BHPH Report caught up with NIADA senior vice president of member services Scott Lilja this spring to get an update on program success and what kind of lift — pun intended — dealers are experiencing.
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