"According to a recent survey from Gfk NOP Social Research, consumer confidence in purchasing high price tag items like cars was lower than expected for the beginning of 2011.
"However, it’s not all doom and gloom for dealers and brokers.
“Surveys such as these can make uncomfortable reading with a lack of practical advice on the steps that can be taken in order to mitigate alleged dips in consumer confidence.”
“When a customer wants to buy but is holding off it can often be because they aren’t aware of the various buying options that are available to them.
"So it’s a case of presenting all the benefits from a range of finance solutions that make buying a car less intimidating and more affordable, for example the value of the car being guaranteed at the end of the agreement when using PCP, this is a great benefit which if explained properly goes a long way to boost consumer confidence. In addition, PCP can create attractive offers with a lower than expected monthly payment which can increase dealer footfall in the first place.”
“Rather than look at the results of this survey as a sign of tough times to come, dealers and brokers should recognise this as an opportunity to up their game and promote the right finance solution. Not only should this approach increase sales, but it also acts as a great retention tool.
“In addition January proved to be a very positive month for Alphera and if this performance is mirrored across the market it tells me that dealers are already reassuring their customers through the provision of point of sale finance.”