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April 17.2025
2 Minutes Read

Huntington Bank's 25% Growth in Originations: Insights for Dealerships

Huntington Bank branch exterior reflecting 25% growth in originations

Huntington Bank Sees Significant Growth in Q1 Originations

In a recent announcement, Huntington Bank reported a notable 25% rise in originations during the first quarter of 2025, marking a significant achievement in a highly competitive banking landscape. The increase reflects the bank's strategic initiatives aimed at enhancing auto financing services, catering specifically to dealership partners and customers alike.

Behind the Numbers: What Population Trends Mean for Auto Financing

The rise in originations isn't just a mere statistic; it signals underlying trends in consumer behavior and preferences. As the auto industry continues to witness a shift toward electric vehicles and sustainable options, banks like Huntington are adapting their services to support this transition. The upward trajectory invites dealership principals and general managers to rethink their finance strategies and align with consumer expectations in a changing market.

Comparative Insights: How Huntington Stacks Up Against Competitors

While Huntington shines with a 25% increase, banks like Fifth Third and Truist recently also released their earnings. Fifth Third Bank, for instance, reported a decrease in indirect loan originations, emphasizing the unique positioning Huntington has carved out amid current economic fluctuations. Understanding these competitive dynamics can help dealership managers make informed decisions about financing options they provide.

The Value of Streamlining Processes for Dealerships

Huntington Bank's growth reflects a broader trend of dealerships seeking efficient funding processes. Dealership principals can harness technologies such as AI website builders to streamline their onboarding and financing options, thereby improving customer experience and maximizing sales. By leveraging AI site builders, specific functionality can be integrated into dealership websites, facilitating low-friction fee structures that attract potential buyers.

Future Predictions: The Role of Technology in Auto Financing

Looking ahead, the auto financing landscape is likely to evolve further with the integration of technology. Free AI website builders are on the rise, offering affordable solutions for dealerships that aim to enhance their web presence without substantial investments. Understanding what constitutes a good website builder can guide dealerships to access tools that enhance consumer engagement, simplifying their financing processes and ultimately leading to increased sales.

Actionable Steps for Dealership Principals

For those in the automotive sector, it is essential to stay ahead of the curve by understanding the implications of these shifts. Dealerships can maximize their potential through automotive training classes, focusing on the latest sales techniques and financing options. Embracing online courses can equip staff with the necessary skills to adapt to changing demands.

Embracing Change: Conclusion and Next Steps

As Huntington Bank demonstrates strong growth in originations, dealerships must consider how they can fold similar strategies into their operations. This is the perfect moment for dealership leaders to explore cutting-edge training programs and digital tools that enhance customer engagement. By proactively adopting these strategies, dealerships will not only thrive in the current landscape but also position themselves for future success.

Take the first steps to upgrade your operations today by researching your options for automotive training online and exploring advanced technologies to streamline your financing services.

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09.07.2025

Why Finance Managers Worry About Cash Payments and Credit Union Loans

Update The Cash Payment Conundrum: Why Finance Managers Sweat It In the bustling world of car dealerships, finance managers play a crucial role in guiding prospective buyers through the maze of financing options. However, when customers opt to pay in cash or secure financing through a credit union, it can cause some unease among finance departments. Understanding this dynamic can help dealers better navigate sales processes and improve customer satisfaction.In 'Why Finance Managers Get Uneasy When You Pay Cash or Use Credit Union Approval', the video delves into the anxieties of finance managers regarding cash transactions and credit approvals, prompting this deeper analysis of their significance. Understanding the Finance Manager’s Perspective Finance managers are tasked with managing risk for the dealership. Payments made with cash may raise red flags regarding the source of funds. Managers often worry if a buyer’s cash is legitimate and if it aligns with compliance regulations. This is especially true in today's environment, where car thefts can involve intricate schemes. Why Credit Union Financing Might Raise Eyebrows While credit unions are often associated with lower rates and friendly service, finance managers may feel apprehensive about approving loans from them. Compared to traditional banks, credit unions can have varying standards that might not align with those at the dealership. If a customer comes in with a credit union approval, it can throw a wrench in the process if the dealership has not previously established relationships with that particular credit union. The Importance of Streamlined Processes For dealerships looking to improve their sales processes, understanding these points of friction is vital. Training finance staff on common concerns regarding cash payments and credit approvals can enhance the customer experience while safeguarding the dealership's interests. Resources such as automotive training centers provide essential insights into these issues. Empowering Sales Teams with Knowledge Sales personnel armed with information about finance manager concerns can facilitate smoother transactions. They should be trained to discuss payment options clearly, reinforcing the benefits of financing through the dealership and why it might be more secure than cash or independent credit unions. Educational materials, such as environmental performances of different financing routes, can help embed this understanding. Building Trust with Credit Unions Establishing trust and collaboration with credit unions can ultimately lead to fruitful partnerships for car dealerships. When banks and credit unions can work more cohesively with dealers, it creates an environment where both parties can thrive in their respective markets, and consumers benefit from smoother transaction experiences. Understanding the hesitations that finance managers may have about cash payments or credit union approvals allows dealerships to enhance their processes and customer service effectively. By making informed decisions and providing strong education and training for all staff, dealers can create a positive sales atmosphere that addresses potential concerns upfront. Consider leveraging tools and training workshops to stay ahead of these evolving financial conversations!

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Revolutionizing Automotive Repair: The Impact of Cosmetic Maintenance Services

Update Revamping Automotive Care: The Need for Cosmetic Repairs As conversations about automotive care continue to evolve, one fundamental issue arises—the importance of cosmetic repairs. With many drivers keeping their vehicles longer, averaging around 12.8 years, looking after their cars' appearance is paramount. Earl 'Stixs' Brown, the founder and CEO of Radiant Ride, shines a light on this gap in service, addressing how cosmetic maintenance can preserve trade-in value, enhance ownership experience, and foster dealer retention. The magic lies in an innovative yet straightforward approach: integrating cosmetic repairs with routine maintenance to create an all-in-one service experience for customers.In 'Ep 21 | Sticks – Real Talk on Sales, Hustle, and Winning in the Auto Industry', the discussion dives into the critical intersection of automotive care and cosmetic services, prompting a deeper exploration into how these elements can benefit both dealerships and customers. Understanding the Automotive Cosmetic Repair Market The automotive cosmetic recon sector stands at an impressive $5.4 billion industry. Historically, after customers drive off the lot, they face a universe of cosmetic wear and tear without any convenient solution. Radiant Ride aims to fill this void, providing dealers a unique opportunity to partner with them to maintain a customer’s vehicle in pristine condition. This strategy not only helps retain customers beyond their warranty period but also prepares dealerships for future vehicle purchases. The Win-Win for Dealers and Customers By promoting a service model where automotive cosmetic repairs coincide with regular maintenance, Radiant Ride creates a dual benefit framework. Customers find value in maintaining their cars' aesthetic appeal while dealers, in return, have the chance to enhance customer loyalty. The synergy of routine services and cosmetic upkeep ensures that both parties leave satisfied: cars look great, and trade-in values remain high. Real Experiences Transforming Industry Norms As Stixs highlighted, drivers possess a psychological commitment to their vehicles, ensuring they keep their cars looking good. The combination of cosmetic maintenance with traditional services invites a harmonious relationship, where dealers act as partners in upkeep. Yes, the cost of repairs is often viewed as an expense, but it should be seen as an investment into the vehicle's longevity and appearance, much like home maintenance. Embracing Advanced Technology for Enhanced Services With a significant rise in online searches for terms like 'car dent repair'—over 18,000 monthly queries—there's a clear market demand for these services. Utilizing digital tools, dealers and customers can now navigate repair and maintenance options efficiently. The integration of AI tools in automotive training and marketing can also bolster awareness of cosmetic repair options, steering more customers toward maintaining their vehicles appropriately. As suggested by the industry experts, effective digital strategies can bring awareness to services that are often overlooked. Conclusion: The Future of Automotive Care Understanding the evolving landscape of automotive care is crucial for car dealers. As the conversation progresses, it's necessary for industry leaders to embrace innovative ideas like Radiant Ride’s approach to combine routine maintenance with cosmetic repairs. This partnership not only enhances customer satisfaction but also strengthens dealership operations. If you're ready to explore integrating these valuable services into your operations, consider how Radiant Ride can mobilize your success.

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