I want to encourage more of our own brokers into the space, and we've built some new tech that we'll push shortly to support various programs.
Auto and Resi finance is two way in that a client from one list should funnel into the other; any auto customer should become a property finance customer, and vice-versa.
Over a milion vehicles are consistently sold in Australia each year (nearly 3000 every day). It's a massive market! An average vehicle is kept for just under 10 years, meaning that 10% of your existing database may buy a new car this year. How many will you suppor?
The most popular vehicles sold last month were the Toyota HiLux and Ford Ranger, with this anecdotal evidence suggesting that trades are a big market. This opens up low-doc, business finance, refinance, and investor opportunities, and possibly other services on the periphery, such as business insurance referrals. The method is part of what we called siloed diversification in that it doesn't touch on those services outside of your core product.
More consumers buy cars than property, and many that buy vehicles are in the property market. Once a client is yours (via any means) you're in a far better position of trust to take control of their 'other' finances.
It might seem obvious, but very few of those we talk to have a program in place that uses auto and equipment finance to leverage other more profitable areas of their business.
