Winnsboro Auto Sales
Business Name: Winnsboro Auto Sales
Name: Terry and Sheila Shirley
Business Bio/Background: Opened NAPA AutoCare and Tire Store in 2002 (Winnsboro Auto Repair) and added an auto sales business in 2003. It gives us a full service used car lot.
How has RTO/LTO impacted/changed your business: RTO has given us the opportunity to increase our sales by being able to finance. It also provides our business with a steady monthly income. Even when sales are down, we can still count on our RTO monthly receivables.
RTO/LTO Lesson Learned: We always install a GPS unit which gives us control of our cars in case of insurance cancellation or late payment. We require a reasonable down payment which gives the customer a vested interest in the vehicle they choose. They are more likely to keep it and take care of it. If a customer meets certain criteria (such as: pays on time, keeps insurance policy active, services vehicle and doesn't have excessive mileage) we will allow them to roll part or all of his/her initial down payment over onto a new RTO vehicle. This allows our customers to upgrade their vehicle periodically and we get to keep good customers. We also require automated payments. Customers are more likely to pay on time to avoid bank fees and account issues. We also charge a $20 NSF/late fee charge if the payment is rejected. This also encourages prompt payment. We check over all of our vehicles thoroughly in our effort to have high quality vehicles to offer our customers. We provide a 36 month or 36,000 engine and transmission warranty on each vehicle as well as a maintenance package which covers oil changes every 4 months or 4,000 miles and transmission services, as recommended by the manufacturer.