How Dealers Can Close the Deal When the Down Payment Isn’t There

Most deals do not fall apart because the buyer changes their mind. They fall apart because the buyer does not have the money for the down payment at the moment it is needed. The willingness to buy is there. What is missing is available cash or credit today.

A report from the New York Federal Reserve, cited by ABC News, shows household debt has reached a record $18.59 trillion. Credit card balances are at $1.23 trillion, and millions of Americans are living paycheck to paycheck. Some are not receiving paychecks at all due to furloughs or reduced work hours. So when a customer reaches the finance office, the problem is not interest in the vehicle. The problem is timing. The money is not available right now. 

Why Deals Collapse at the Down Payment Stage 

Dealers are seeing more buyers come up short on the down payment, even after agreeing to numbers and securing approval. Common situations include: 

• The buyer is approved, but the lender requires a larger down payment to finalize the loan 
• Credit cards are declined or maxed out when used to cover the difference 
• The customer has income coming, but not in time to complete the purchase 
• Buyers hesitate to take on additional debt or stretch their budget any further 

The issue is not refusal. It is that buyers are temporarily out of margin. 

When Traditional Options Are Not Enough 

When this happens, dealerships often delay delivery or discount the vehicle to make the payment work. Both options reduce profitability and risk losing the customer. Some buyers walk away and do not return. 

Checks could solve the problem, but many dealerships stopped accepting them for larger transactions due to the risk of insufficient funds. If a check does not clear, the dealership takes the loss. 

That is why payment assurance makes a difference. 

How Check Guarantee Keeps the Sale Moving 

Check Guarantee allows dealers to accept checks for down payments, full purchases or service bills without taking on financial risk. 

• The customer writes a check or provides checking information 
• CrossCheck authorizes it in real time 
• If approved, the dealership is guaranteed payment even if the check is returned 

The customer drives away. The dealership receives secured funds. The deal is completed without lowering the price or waiting for other financing. 

When the Money Is Coming Soon: Multiple Check 

Some buyers have the funds coming soon, just not today. Multiple Check provides a secure way to work with that timing. 

• The total amount is divided into two to four checks 
• Each check is scheduled for deposit on dates agreed to by the customer 
• CrossCheck authorizes and guarantees the full transaction 

This gives buyers time while giving the dealer full assurance the payment will be made. 

Why Dealers Use These Tools 

Dealers using Check Guarantee and Multiple Check see: 

• More deals saved when buyers fall short on down payments 
• Fewer walkouts or stalled deals in the finance office 
• Less pressure to discount to make the sale work 
• Increased approvals in service, parts and F&I add-ons 
• Better customer experience and CSI scores 

It gives the sales team a solution instead of a dead end. 

Why This Matters Right Now 

Vehicle demand is still strong. Buyers still want cars. What has changed is how much cash and credit they have available in the moment. With household debt and credit card balances at record highs, millions of Americans are doing everything they can just to keep up. 

Deals are not being lost because people do not want the vehicle. They are being lost because they cannot cover the down payment today. 

Dealerships do not always need more leads. They need more ways to close the buyers already sitting at the desk. 

Check Guarantee and Multiple Check help dealers protect the sale, protect the price and give customers a way to say yes, even when the down payment is not there yet.