Check Guarantee for Auto Dealers
Auto dealerships deserve a different approach to check returns
Auto dealerships deserve a different check guarantee service than general retail. Eliminating check authorizations simplifies the process and frees you from turndown problems. You don’t have to decide which checks to guarantee and which to risk because all checks are covered automatically. Give yourself a chance to learn more about this innovative approach. Call Payment Solutions today for a fast free quote with no obligation.
How we customized our check guarantee program to meet the needs of auto dealers
- All checks are guaranteed automatically - no time is wasted on authorizations
- No check readers, terminals, log lists, or phone calls necessary
- Customer checks are never turned down – no tough decisions or awkward moments
- 45 day hold check period, no forms or restrictions
- Flexibility for re-written contracts and third party deals
Our history working with auto dealers
Payment Solutions has specialized in managing returned checks for major auto dealerships since 1983, when we developed a fundamentally different approach to check guarantee for auto dealers. Our goal is to completely handle the check return problem and help you to generate more gross business. We understand hold checks and special financing. We know the importance of CSI and flexibility on rewritten deals. After more than 25 years, no other company has successfully duplicated the Payment Solution's program.
Payment Solutions is the only offline check guarantee service available to auto dealerships. After extensive analysis of traditional check guarantee programs, the retailer oriented databases of bad check writers were found to be error prone, expensive to maintain, and not always relevant to the auto dealership business. Payment Solutions eliminates the database completely, relying instead upon historical analysis of the specific auto dealership's business. We believe this makes more sense for you and us.
Eliminating the database means that authorizations are never required. No terminal input, telephone calls, or check readers are ever necessary. Your customers never have to wait in line for their checks to be approved. The guarantee process is now behind the scenes, so customers never get the impression that you don't trust them. There is no possibility of creating an embarrassing scene with a check decline. When attempting to maximize customer satisfaction, Payment Solutions allows you to ensure that the last impression you leave with them will be positive.
Eliminating check authorizations also means that you don't have to agonize over which checks to guarantee, because the program provides complete coverage. Your staff is freed of pressure to decide when to guarantee checks and when to take the risk.
Bottom line: Our check guarantee service for auto dealers will help boost your profitability in three ways:
- The time and cost of collecting on non-guaranteed checks is reduced or eliminated
- The write off of uncollected checks is reduced or eliminated
- Gross sales and revenues improve because no checks are declined
Eliminating check authorizations also allows more fairness in the fee structure. Ordinary programs charge a percentage rate of the total amount of all checks authorized. Therefore, your fee is based on your gross volume, which increases as business picks up. Put another way, such programs charge a fee for good checks as well as bad ones. Since Payment Solutions is offline and does not capture gross volume, a monthly fee is quoted based primarily on check returns. We believe that it makes more sense to base the cost of check returns directly on the problem itself. This fee basis, combined with our lower overhead due to eliminating the database, means that Payment Solutions is the lowest cost check guarantee option available to any auto dealership.