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Vaden Automotive Group Customers See $3,000 Improved Equity Using AutoPayPlus Biweekly Loan Payments

August 12, 2013
2 min to read


Orlando, Fla. – Vaden Automotive Group reports that their customers average $3,000 improved equity position when using US Equity Advantage's (USEA) - a provider of biweekly and custom consumer loan acceleration services to the automotive industry - rapid loan payoff solution AutoPayPlus. Vaden’s entire AutoPayPlus customer base will be in a better equity position of $13.5 million over the next two and a half years.


Vaden was founded in 1968 as a single Chevrolet dealership on an old dairy farm in Savannah, Ga. Today, the Vaden family operates 10 dealerships throughout Savannah and Brunswick, Ga., as well as Beaufort, S.C. Vaden began using AutoPayPlus approximately two years ago with the goal of improving per vehicle revenue (PVR), but also with a goal to help their customers improve their equity and their financial viability to purchase vehicles from them in the future.

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According to Michael Barrett, finance director, Vaden Automotive Group, the program’s true benefit is that “AutoPayPlus places our customers in an average $3,000 better equity position.” He added, “We are already enrolling in excess of 150 customers per month, producing an average of $3,000 additional equity per contract. Multiply that by 12 months and that figure is $5.4 million. Extrapolate out for two and a half years and it equals $13.5 million in improved equity for our customers!”


Vaden’s customer retention has improved in response to its strategy to help customers build equity faster for an earlier trade-in opportunity. The auto group has also augmented its PVR by 37.5 percent; with a product sales increase from 0.8 to 1.1 per vehicle.


“One of the biggest problems with car buyers today is they lack an adequate down payment. AutoPayPlus helps alleviate the problem because the payment strategy enables the customer to build a better equity position. With AutoPayPlus, not only will the customer reduce the payoff term of the loan, but also the amount of interest paid, and build equity in their vehicle faster,” Barrett explained. “With more equity earlier in the life of the loan, they will be in a better position to trade-in. Additionally, we enable the buyer to afford a maintenance plan, save a substantial amount in interest and have a built-in down payment for their next vehicle with no out of pocket costs, and for little, if any, increase in car payment. It’s an easy sell - an absolute no brainer.”


According to Barrett, Vaden Automotive Group is well known for its above average F&I performance and the group’s PVR is on target to put an additional $1.1 million on the books this year.


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