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For Perspective: If a dealer typically sells 450 loyalty cars per year at an average
$4,000 gross per vehicle, totaling $1.8 million in annual gross, a 10% hit to
their loyalty rate will cost them $400,000 in gross revenue.
Once a customer buys out their lease, their loyalty is immediately at risk, threatening sales and
service revenue, pre-owned inventory and more. As a customer lease expires, your goal needs to
be retaining their business.
WHAT TO DO
̆ Explore lease extension options to bridge the gap between contracts if their desired vehicle
is not currently available.
̆ Discuss pre-order or reserved sale options and estimated delivery dates.
̆ Look at what similar models are immediately available that meets their needs.
̆ Worst case scenario, control the situation. Ensure the customer processes their lease buyout
with you AT YOUR STORE and not through their captive finance company. Capitalize on the
gross opportunity – and leave the customer with one more positive experience to keep them
tethered to your store.
Interested in learning how Mastermind can help your dealership stay a step ahead of lease buybacks?
Contact us for a free demo.