NEW YORK – IntelliPayment, a provider of biweekly payment products, will release a newly enhanced version of its biweekly payment products at booth #4023N at the 2011 NADA Convention and Expo in San Francisco.
With IntelliPayment, dealers can accurately calculate and offer accelerated payment options to customers with integrated online tools and enrollment options, resulting in substantial increases in F&I profit.
“What differentiates IntelliPayment is that our dealers achieve greater than 50 percent product penetration over extended periods of time, which allows per vehicle revenue (PVR) to increase meaningfully. IntelliPayment sales within our dealerships don’t start and then just fade away,” said Mickey Cavuoti, founder and CEO of IntelliPayment.
He added that IntelliPayment’s business increased 150 percent in transaction volume last year.
IntelliPayment said its automated biweekly payment service can produce increases in F&I profits through product and accessory sales while lowering the monthly payment and keeping the loan payoff term the same. “Using IntelliPayment has increased our PVR by over $150 a copy without complicating the F&I process for our business managers,” said Christian Gomes, owner of Ford of Smithtown in New York.
IntelliPayment customers benefit by making smaller, more frequent payments, which sync with their paychecks automatically, and help them to budget, save interest, accelerate their equity, and ensure their good credit. Customers are also put into a better position to trade sooner. IntelliPayment tracks the loan, works seamlessly with any lender and assists in loan management.
IntelliPayment is a Web-based application, which allows F&I managers to enroll customers in a matter of a few minutes. IntelliPayment is integrated with all major DMS providers and commissions are paid up front with no charge backs.
“The blended IntelliPayment product penetration for all of our stores has averaged over 50 percent each month for almost two years now, and our grosses are higher than they’ve ever been,” said Ray Tantillo, owner of the Tantillo Group. “We never have to worry about enrolling our customers with IntelliPayment because we know they’ll get great customer service and can rest assured that their payments are being made.”
For more information, visit IntelliPayment at booth #4023N at the 2011 NADA Convention and Expo in San Francisco from Feb. 5-7.