A little communication might yield more fruitful relationships with an auto dealership's partner lenders, according to Open Lending Chief Revenue Officer Matt Roe.
Roe notes dealers often don't tell lender representatives their needs, such as more back-end advance or longer loan terms.
"I think a lot of the lenders that we work with are very open to those conversations," says Roe, whose company develops borrower default insurance for auto lenders.
Roe recommends dealerships ask for what they'd like to see. One would be surprised "how many lenders are willing to make some adjustments," he said.
