<img height="1" width="1" style="display:none" src="https://www.facebook.com/tr?id=905697862838810&amp;ev=PageView&amp;noscript=1">

LenderHub

SWBC's LenderHub blog is a one-stop resource for lenders.

 

Recent Posts

How Longer Auto Loan Terms Impact Your Financial Institution

Long-term auto loans are known to be riskier, so why are they increasing in popularity when it comes to auto lending? In the auto industry, it’s not uncommon for consumers to have negative equity in their vehicle. Consumers want the latest and greatest when it comes to savvy technology and features so they upgrade their vehicles, and with that comes a cost. In order to keep costs down, many consumers are opting for longer terms in order to keep their payments affordable. But, does this set them up for financial failure?

Read More

Depreciation Benefits of Vehicle Protection Products [Infographic]

Some things, like fine wine, get better with age. Unfortunately for vehicle owners, cars rarely get better with age. In addition to losing significant value immediately after driving off the dealer's lot, new cars depreciate 15-25% each of their first five years, according to Edmunds.com.

After a total vehicle loss, your institution's members are increasingly finding themselves owing more on their vehicles than the vehicles are worth and receiving significantly depreciated settlement checks.

Read More

Channel Your Inner Salesperson

Many people despise the typical salesperson. If I were to ask the average person walking down the street if they were in sales, I'd probably hear a resounding and collective, "NO!" And guess what my response would be: "Oh, you're not?  Well, I hate to break it to you, but we are all in sales. Nothing happens until something is sold."

That's important so I'll say it again: nothing happens until something is sold! It's no secret, sales people have received a bad reputation over the years; and in all honesty, it may have been warranted at times. Ask someone how they feel about car salesmen, insurance salesman, or even a kitchen knife salesmen, and you will probably see their nose turn up or a grimace appear on their face. I can't tell you how many times I've heard,

"Oh my goodness, I hate sales!  There is no way I would ever consider selling in any capacity!"

Read More