CARRUSLiNK
    Glossary

    Renewal / repurchase

    Renewal is when an existing customer buys or leases a new car from the same dealer, typically as a leasing or finance contract expires. It requires contact well before expiry, a concrete offer on a new car and an agreement on the current one.

    Renewal is the cheapest deal a dealer can make. The customer is known, the history exists, and there is no portal cost.

    It is also the deal most often lost, because it depends on someone acting on a date three years after the signature.

    The practical fix is to turn the expiry date into a task: first contact around 90 days out, an offer around 60 days, and a return or trade-in agreement around 30 days.

    In CARRUSLiNK

    CARRUSLiNK triggers the renewal flow automatically from the contract expiry date, so the customer is contacted before a competitor does it.