Conceptual Design of a Dealer Approved Program

Client Need: A regional bank wanted objective third party assistance with the conceptual design of a dealer approved program including the impact to operations and systems, along with the risks and financial benefits of introducing the new product. Client expansion plans included entry into new markets where demand for dealer approved programs was prevalent.

Solution: BenchMark developed a dealer approved conceptual program design including recommended borrower, credit and vehicle approval characteristics, along with staffing and systems impacts and costs associated within a range of volume increases.

Results: BenchMark identified annual additional pre-tax profit of $8.1MM - $48.5MM (5% to 30% volume increase range) from the recommended dealer approved conceptual program design.