COLORADO SPRINGS, Colo. As more consumers buy cars from private individuals instead of dealerships, Ent FCU is looking at ways to appeal to this expanding market segment.
“Sites such as eBay are making this a group of car buyers we have to pay more attention to,” said Bill Vogeney, EVP/CLO at the $3.8-billion CU. “We are trying to figure out what we need to do to better accommodate those buying cars form private sellers. There just are a lot more people buying cars from private individuals and not the dealers. We think that is a chunk of the market we can attract.”
Vogeney, chair of the CUNA Lending Council, said Ent is considering ways to give this group a higher level of service as well as lower rates. “You are not paying the dealer, so you might be able to offer this segment pricing a little better than your best published rate,” said Vogeney.
Credit Union Journal’s Sept. 2 issue will include expanded coverage of auto lending-related issues.
