2 Successful Auto Loan Promotions

CFE Federal Credit Union takes advantage of Florida’s pent-up demand for cars.

 
 

CFE Federal Credit Union ($1.4B, Lake Mary, FL) aimed for a “sexy, wow” factor in its auto loan marketing with a giveaway of a new Jaguar. As a result, the credit union closed $2.7 million in loan volume, booking 160 loans throughout the promotion. It’s average loan was $17,203. 

 

 

 

 

June 21, 2012


Comments

 
 
 
  • Good webinar
    Anonymous
     
     
     
  • The promo sounded like a success, but if you are offering a better rate for a better credit score that is not a flat rate sale for all buyers and a little mis-leading.
    Joe Amellio
     
     
     
  • The promotion was obviously price driven. The rate is exceptional for any credit tier.
    LNovak
     
     
     
  • Joe,

    Thanks for your comment. The 2.99% rate at the car sale was available for anyone buying a car regardless of their credit; however, if a member wanted a shorter term on their loan, and they were able to handle the higher monthly payment amounts, we offered them a product off of our rate sheet that carries a 1.99% rate for 36 months.
    Suzanne Dusch
     
     
     
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