Dealerships are often looking for ways to help customers get cash right away to get folks back on the road. They need funds now for essential car repairs or other products and services within the dealership. A seamless financing option like a cash advance improves the customer experience, builds loyalty, and is a win-win for the customer and the dealership. Because the faster and easier it is for a customer to get funds, the better the chances are that those deals will close when a customer needs it most: now. That’s good for customers, and that’s good for business.
“Providing robust financial options during the pandemic allows customers to maximize their vehicle investment and get not only what they need, but what they really want.”
So, what would the ideal scenario be? Ask most customers, and they’re looking for an immediate cash advance issued directly to their bank/debit cards in minutes, not hours or days. If that were possible, how would that impact a dealership? An easy on-the-spot cash advance could provide that much-needed option for customers interested in leasing, trading, or upgrading their vehicles right now. Providing robust financial options during the pandemic allows customers to maximize their vehicle investment and get not only what they need, but what they really want.
DigniFi has partnered with TabaPay to help dealerships offer an immediate financing option designed with customers in mind. For DigniFi ExpressWay cardholders, here’s how it works:
- Customers go to the DigniFi ExpressWay customer portal to request a cash advance.
- Then, they click the “Advance Cash” button and enter their information.
- Via TabaPay, the funds they need will go directly into their bank account, ready to be used with a bank card.
Here’s what dealerships should know:
- Customers must enter a cash advance amount less than or equal to what is available on their ExpressWay card.
- Customers can only get a cash advance for up to $2000 with their ExpressWay card.
- This is a revolving line of credit*. That means if the customer has a $2000 credit line and they, for example, have already used $1500, they will have $500 remaining for a cash advance.
What’s important to note is that customers can get a cash advance for up to $2000. Also, there is a fee of 4% or $10, whichever is higher. In the end, with funds going directly to the customer, dealerships no longer have to worry about OEM restrictions on the funds going directly to the dealer.
A cash advance can be a helpful tool for customers who need immediate assistance in getting what they need to drive safely and without worry.
Contact your DigniFi representative to learn more about giving customers that important cash advance.