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Mismatched payment quotes are costing dealerships billions, and on this episode of Inside Automotive, Pete MacInnis, founder and CEO of eLend Solutions, breaks down new data highlighting the financial impact on both front-end and back-end operations. He explains how credit application approvals that don’t align with dealer quotes are creating lost revenue, extended sales processes, and reduced customer satisfaction.
Discussion highlights include:
- Less than 60% of dealer-submitted credit applications are approved, with only 32% matching the original quote
- Monthly payments can increase $32–$36 when approvals don’t align with dealer offers
- Widespread deal rework, with 95% of dealers adjusting agreements to meet lender terms
- Reduced front-end gross profits, with 56% of dealers adjusting profit by $300+ per deal
- Back-end finance delays adding 30–45 minutes per transaction
- How eLend Solutions’ Dealmaker platform aligns quotes with approvals, restores lost revenue, and streamlines operations
MacInnis emphasizes that addressing payment discrepancies is a significant opportunity for dealers to improve efficiency, increase profits, and deliver a better customer experience.
Inside Automotive with Jim Fitzpatrick is powered by CBT News, your go-to source for the latest news, trends, and insights in retail automotive. Subscribe for more interviews with top industry leaders, dealership innovators, and experts shaping the future of automotive.
For more content, visit CBTNews.com and follow us on your favorite podcast platform.
Chapters
1. $4.7B Opportunity Revealed (00:00:00)
2. Report Methodology And Key Stats (00:00:31)
3. Dealer Survey Confirms The Gap (00:02:42)
4. Front-End Profit Erosion (00:05:12)
5. Back-End Impact And Time Waste (00:06:44)
6. Why Quotes Don’t Match Lenders (00:08:03)
7. From Rate Sheets To AI Pricing (00:10:21)
8. The Cost To Dealers And CSI (00:12:09)
9. Teasing A Tech Solution (00:13:12)
38 episodes
