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Payment Processing Solutions for Auto Dealerships

Payment Processing Solutions for Auto Dealerships

Auto dealerships have unique needs that require special solutions — software as fast, efficient, and reliable as the cars you sell. 

You deal with transactions in the thousands daily, which means you need a comprehensive system that can handle large payments with ease and keep all your transactions organized.

Imagine how much stress ensues when your POS doesn’t respond, or a customer’s payment doesn’t go through, or a faulty system incurs multiple multi-thousand-dollar charges. These are unfortunate realities for busy auto dealers that don’t have a payment system they know they can count on.

At 5-Star Processing, we offer the leading payment processing services for automobile dealerships throughout the country, ensuring they always have dependable service and support from our team.

What to Look for in Auto Dealer Payment Processing

Auto dealerships need software capable of supporting the high-volume, large-scale payments of the automotive industry.  Good payment processors make life easier for your business. 

When exploring any payment processor for your dealership, here are key factors to consider.

Integrations With Auto Dealer Software

A payment processor must have integrations that seamlessly connect to your existing software, ensuring customer accounts are automatically updated to reflect new transactions and records are kept up-to-date.

The right payment processing solution will be compatible with the top Dealership Management System (DMS) and Customer Relationship Management (CRM) software, ensuring you have streamlined support and fluid financial recordkeeping. You should also check that a payment processor is compatible with any finance and insurance (F&I) software you use to continue to offer more flexible financing solutions to your customers.

Low Processing Fees

When comparing payment processors for auto dealers, be mindful of both swiped card rate and keyed card rates. Swiped card rates are straightforward — the customer swipes their physical card through a terminal and is charged. A keyed card rate is a transaction made when the dealer or customer manually inputs the card information into a payment system.

Keyed card rates are higher because banks see them as a higher risk of being fraudulent. Even though it may not be, the potential of a false charge or the use of a stolen card ultimately leads to higher rates for dealerships.

Keyed rates are considered “card not present” transactions,” so you will always pay more for them. However, there may be situations where you or a customer need to manually enter a number to complete a transaction.

Supports ACH Payments

A payment processor should support Automatic Clearing House (ACH) transactions. This powerful payment system was developed by the National Automated Clearinghouse Association (now known as Nacha) in 1974 to facilitate payments throughout banks in the United States.

Businesses also use ACH to receive payments from customers, which makes it particularly vital for auto dealers that offer car leasing services, rentals, and financing plans.

ACH payment processing is also ideal for managing auto financing solutions. This can save you time having to collect recurring payments, like monthly leasing fees, from your customers, saving you time and money on lengthy administrative work.

Mobile POS Solutions

A mobile point-of-sales solution allows your representatives to sell or lease vehicles directly on the showroom floor. Mobile solutions also reduce customer wait times and allow for faster payment processing. This not only increases customer satisfaction but allows your dealership to close more deals faster.

Customer Support

Some payment processors have dedicated customer support portals while others offer phone and email support. In any case, you deserve to have on-demand assistance whenever you have questions or issues arise with your POS.

5-Star Processing: The Best Payment Service for Auto Dealers

5-Star Processing is the leading payment processing provider for all businesses. We deliver personalized support, the top POS systems, and easy integration with your car dealership’s current software.

We have carefully selected our payment processing partners to ensure that we can offer our customers competitive rates. This translates to greater savings for you across all transactions, leading to thousands of dollars in annual savings.

When you choose to work with us, you receive:

We make it easy for you to reduce errors, save time, and sell and lease more automobiles through reliable, fast processing. Robust back-end solutions ensure that even when processing well over six figures per day, your POS system doesn’t skip a beat.

Our customer service makes us stand out from our competitors. Instead of pushing everyone the same product, we personalize each solution to suit your industry and individual business needs. 

Whether you’re a franchised dealership or independent auto dealer, we can find the right solution for your business. Our dedication to individualized care ensures that each dealership finds the perfect payment processing solution for their needs, all the way down to the types of vehicles they sell, their customers’ preferred payment methods, and their unique financing services. 

With our payment processor, you can rapidly process payments from all of the leading credit cards and contactless payment providers. The team at 5-Star Processing is here to answer your questions and help you find the perfect solution for you.

Schedule a Free Consultation

If you have questions, we’re ready to answer them. The team at 5-Star Processing is here to help you find the perfect payment processing solution for your auto dealership. Contact us today to schedule a consultation with us.