You know the car dealership business is not exactly an easy one. And you know you need effective, reliable merchant services to support your business. Here are a few options you should consider when you review your current provider or start shopping around for a new one.
7. Chargeback Protection
Anyone looking for car dealership merchant services should definitely be looking for a provider that offers chargeback protection on credit card transactions. These chargebacks, made as soon as a client disputes a charge, can cause a car dealership to default on its merchant account.
A rash of disputed charges can spell serious trouble, which is why you need to protect against them. Providers offering merchant services for car dealerships should include protection that will prevent your account from defaulting if you encounter chargebacks.
6. Different Terminal Options
Maybe you want a terminal that will sit at the front desk. Or maybe you want your sales associates to be able to process payments at their own desks, so the client doesn’t need to feel rushed filling out their paperwork. Or maybe you want your sales associates to have the freedom to accept payment out on the lot or the sales floor.
A good provider will offer you different options for card processing terminals so you can choose what will work best for you.
5. Contract Flexibility
Some providers will offer car dealership merchant services on a long contract or with hidden termination or contract change fees. Others understand you need a more flexible solution and provide more options for contracts, including different contract lengths and lower fees for termination or contract changes. Some providers may not even have fees for changes to service agreements. That allows you to scale your service with much more flexibility, enabling you to adapt more readily to the changing business environment.
4. Transparent Billing
This isn’t really an option per se, but it is something you should consider non-negotiable when you’re reviewing car dealership merchant services—you should always choose a provider that offers you clear and transparent billing!
A common complaint is that bills for payment processing arrive with all kinds of fees that weren’t discussed but are buried in the contract. Always ensure your partner provider is committed to transparent billing.
3. Lower Fees
For some car dealerships, this may seem like a pipe dream, but you should always research which providers offer flexible fee structures. You may have options you didn’t know about.
While it’s likely impossible to escape transaction fees entirely, you may be able to find a provider that offers a lower transaction fee, which could save you money and boost your profits. For most car dealerships, the percentage transaction fee is more concerning than the set per-transaction fee, so look for a provider that offers you better rates.
2. An All-Inclusive Solution
Perhaps the best option for those considering car dealership merchant services is an all-inclusive solution. This combines multiple methods of payment with flexible contracts and fee structures, and it guarantees you won’t see anything that wasn’t discussed cropping up on your bill.
If you haven’t already considered an all-inclusive solution as an option for merchant services at your car dealership, you should most definitely put it at the top of your list.
Since car dealerships process high-value transactions, customers want to know their information is safe and secure.
You should want to know how your provider is keeping your transaction information safe from criminals and hackers. Ask what kind of security your provider can offer with your merchant services to keep both you and your customers safe.