What I liked most about using the bi-weekly payment option was the ability it gave me to justify other value-added menu options that customers previously declined
Orlando, FL (PRWEB) November 13, 2013
US Equity Advantage® (USEA) – a leading provider of bi-weekly and early/rapid loan payoff services to the automotive industry, announced today that automotive retail and F&I expert James (Jim) Trueman has joined the company as regional account manager for the Northeast. Trueman’s primary responsibility will be to provide training and sales support to the New England states from his home base in Seacoast, New Hampshire. He will report directly to USEA chief marketing officer, William Lathrop.
Trueman began his automotive career in 2001 in sales for a large multi-line power sports dealership and four years later transitioned to the F&I department. In 2011, he joined Group 1 Automotive’s New England platform, where he again worked in sales before being promoted to the F&I office. In his last F&I position, Trueman was a power user of USEA’s biweekly loan payment service AutoPayPlus™.
“What I liked most about using the bi-weekly payment option was the ability it gave me to justify other value-added menu options that customers previously declined. I also enjoyed showing the customer the value of paying off their vehicle faster and saving money in interest,” Trueman stated. “I’m excited to use my experience to train and improve the success of others in my region,” Trueman added.
Commenting on Trueman’s new position, USEA chief marketing officer William Lathrop stated, “Jim is a wonderful addition to our team. His strong background in F&I at one of the top dealer groups in the country; along with his unparalleled success using our service; make him the ideal person to provide training and sales support in the New England market.”
Auto dealers use AutoPayPlus™ as a way to give customers the convenience of automated payments. Beyond ease and convenience, the biggest benefits of the service are that the customer builds equity in the vehicle faster and saves interest by making additional payments to principal. Now the customer can afford more of the services and products that they want without extending the term or increasing the monthly payment.
When customers enroll in the bi-weekly service, they sign up to make half-payments every two weeks. Instead of making 12 monthly payments, the customer will make 26 half payments, applying extra payments to principal and thereby reducing the term of the loan and interest paid. The weekly service operates similarly to bi-weekly, while those who prefer a fixed debit cycle can opt for semi-monthly or monthly plans. When customers sign up for AutoPayPlus™, they become lifetime members of USEA which gives them the ability to add as many loans as they wish for themselves and their families under the Unlimited Family Plan.
The flexibility of AutoPayPlus™ enables the F&I Manager to satisfy the needs of each sales situation. They may offer it as an option for the customer to automate their payments and benefit with early loan payoff; as a way to reduce the monthly payment; or as a way to increase aftermarket product sales by keeping the payment and term from increasing with the increased cost of products. The advantages to the customer are convenience; accelerated equity; term reduction; increased trade-in value; potential interest savings and total debt reduction.
Founded in 2003, US Equity Advantage (USEA) stands as the industry leader in biweekly and custom loan payment services, from home and automotive to RV, boat and student loans. USEA helps its members reach their financial goals faster through flexible payment plans to accelerate their loan payoff, ultimately saving money in costly interest, staying within their budget and building valuable equity. For more information please visit: http://www.usequityadvantage.com.