3 Myths About Car Insurance to Let Your Customers Know About

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Car insurance involves a lot of guesswork for many customers, and these creeping doubts can kill a sale. While customers certainly expect car dealerships to be knowledgeable about their cars, helping to educate them about car insurance can be a great way to earn their trust. This is especially true for subprime leads, who may not have much experience with car ownership.

If you’re investing in auto finance leads, it’s important that you can put your potential customers’ fears to rest. Today, just 36% of people have enough cash on hand to buy a car outright; the rest will require some kind of auto financing. Besides the fine print associated with their loan, you can be sure that car insurance will be one of the main topics on your customers’ minds. Unfortunately, the first-time car buyers you find through auto finance leads have often heard a number of myths about car insurance.

To help gain your customers’ trust, here are three myths that you should clear up about auto insurance.

    1. Color of the Car:

      For some reason, some customers may believe that the color of their car can affect their insurance premium. In reality, car insurance companies don’t care about the color of the car when they calculate, even if certain color cars are more prone to car accidents. Let them know if your company offers premium comparisons to show them their options.

    2. Sports Cars:

      There is a common misconception that owning a sports car means you will always have higher insurance. While certain high performance cars may have higher premiums, that’s not always the case. Insurance companies also take into account the price of replacement parts, which tends to be more expensive for sports cars. Clearing your customers minds of this myth may allow them to feel more comfortable about purchasing a more expensive sports car.

    3. Totaled Car:

      Many people believe that if their car gets totaled, they will always be covered. In fact, they may or may not be totally covered, depending on if they have enough insurance to cover the cost of the car loan. If your customers have questions about just how much coverage they will receive, help guide them towards a comprehensive insurance policy.

When it comes to something as important as buying a car, customers don’t like uncertainty. A lot of false facts can make them think twice about investing in a loan at all, which would make all of your auto finance leads for naught. Clearing up some of the most common myths helps your customers feel confident about their decision to work with you.

For more information on auto finance leads, contact Cyber Lead today.

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