Van Monster are a national Used LCV retailer with a portfolio of 8,000 retail sales pa. We are also an appointed representative of Consumer Credit Compliance Ltd (CCC).
Our business is mostly conducted at a distance with a customer who is in a hurry to conclude the sale & get his business back on the rails.
People don’t buy a used van on a Sunday afternoon browsing around a vehicle showroom, they want to buy it now because their current van has broken, been stolen or is no longer fit for purpose.
As such, virtually every sale we conclude is a distressed purchase.
Put all that together along with an ambitious F&I regime where finance & protection products are an integral part of our business plan & customer offering, conducting a sale compliantly was initially a daunting task.
This is where the staff at CCC really came into their own. As a team of people, they have a plethora of real-world experiences in sales, compliance, finance, etc.
As such, with CCC’s help, support & expertise, we were able to devise a sales process that is not only effective, it is customer focussed & 100% compliant.
We have operated this sales process for over 2 years now. The F&I revenue we generate now is more than double what it was 2 years ago. This is down to a sales process that firstly ascertains a customer’s wants, needs & budget before making clear & correct recommendations on vehicle selection, funding & protection.
The customer is always given enough information to make a considered decision on every aspect of the sale.
All this is recorded on bespoke customer-friendly sales process documentation that works both face to face or electronically on a distance sale.
Because of this process, our sales are up, our revenue is up & our regulated complaints are zero.
CCC did not devise for us a compliance process, they helped us make our sales process complaint & at the same time more effective.
Any retail business that offer consumer credit or general insurance as part of their portfolio should consult with CCC asap.
Not so that you can be more compliant, so that CCC can help you to be more effective, the compliance comes as an integral part of being more effective!