When getting the leads, keep in mind that your company can do this, or you can get the leads through a lead generation firm. Which is the best way? I vote generating your own. Many companies do well getting their leads from other sources, but the reality is that this just adds an extra expense onto an already expensive process.

Let’s face it, there are few industries in the world as expensive to attain leads than the car loan industry. Yes, if you convert them into customers, the profit will be enormous, but acquiring them costs a very pretty penny. This is why I’d recommend you learn how to generate themselves, if you don’t already, because this will at least eliminate the middle man, and give you more room for profit.

The other factor in this is that any effective marketer will tell you that the money is in the follow up, because the vast majority of customers will not buy on first contact. In fact, the stats say that most of them need six to seven contacts before they will buy from you, so if you just make them one pitch for your product and they don’t buy, don’t give up on them! This is the fatal mistake that most markets make with their car loan leads, and therefore don’t do this. What does this have to do with lead generation?

Well, when you generate your own leads and save money on your own, you have more money available to spend on the follow up sequence, which obviously is a very important part of the process.

Where are the best places to generate car loan leads? You can try both online and offline. Offline would be in places such as magazines, newspapers, or you could buy lists from companies from companies that sell them and send out a direct mail campaign to them. The last one will be the most expensive, but it can be worth it if you know who your target customer is.

Don’t ever just ask for a generic list-make sure you know exactly what your ideal customer would look like (age, gender, income, etc) down to the most minuet detail, and then buy a list with those people on it. This is very important to making your direct mail campaign work, and most companies make the mistake of just trying to sell to everybody, and therefore they end up selling to nobody.

Knowing your target customer is the most important part of the marketing sequence, by far-everything else is just secondary. As I said earlier, if you have high quality leads, you always have a chance of making the sale no matter how shoddy your marketing. If you have low quality leads, you can be the best marketer around and still not sell to your car loan leads.