The team at www.OnlineBKmanager.com is responding to help dealerships after seeing the latest bankruptcy data because a pool of more than 750,000 potential customers has developed so far this year.
According to data through July provided by Epiq Systems, the American Bankruptcy Institute (ABI) reported there have been 448,295 bankruptcy filings submitted nationwide so far this year while 317,354 cases were discharged during the first seven months of 2019.
Site president Robert Davies explained this data presents an opportunity for franchised dealers to partner with www.OnlineBKmanager.com, which specializes in marketing to recent bankruptcy consumers.
“We are seeing consistent quantities of bankruptcy leads,” Davies said in a news release. “Every business day, we are publishing around 5,000 fresh leads nationwide. These are folks who filed or discharged a bankruptcy the day before.
“These are good people who are just dealing with a crummy situation,” Davies said. “With the steady increase in leads our dealers are experiencing strong response and our lender partners are happy to be offering auto loans in this growing market. It is a win-win-win situation.”
In order to meet marketing demands, www.OnlineBKmanager.com has announced the addition of a full-service mailing option exclusively for its active dealer base.
“Our dealer partners now have the ability to target bankruptcy customers the day after they file and discharge, at the first trade cycle after the bankruptcy and anywhere in between,” Davies said.
“We know 37% of our leads will buy within 30 days of discharge and most car buyers trade every four years,” he continued. With this product addition, our dealers can easily and effectively target all consumers within the bankruptcy cycle.”
Avid Acceptance, an indirect subprime finance company focused on originations with consumers with open and discharged Chapter 7 and 13 bankruptcies, also shared its assessment of the current bankruptcy growth.
“Avid Acceptance originations have increased significantly from the same period one year ago,” Avid Acceptance executive vice president of marketing Mark Ford said.
“Our underwriting guidelines are designed to assist dealers with new opportunities within this growing segment of the marketplace," Ford continued. "We are committed to be the leader in providing automotive dealers financing options and solutions for their retail bankruptcy customers.”