CrossCheck Blog

Merchants across many industries – auto dealers, building materials vendors, dentists, veterinarians, and many more – need efficient and secure payment processing solutions. While credit cards dominate, checks remain a popular payment method for many customers. But managing checks without a payment processing solution can be a hassle, leading to delays, errors, and potential fraud. This is where partnering with a check processing company like CrossCheck becomes a game-changer.

Come visit CrossCheck at booth#: 3965W at this year's NADA show in Las Vegas, taking place from Feb. 1 to Feb 4! Our experienced sales executives will be on hand to make sure you can take advantage of our superb Payment Processing solutions and have everything you need to complete your next sale! Al Arco, Charles Dortch III, Danielle Baker, Todd Little and Travis Powers will be manning the booth to offer the best payment processing solutions for your business.

For auto dealers, one crucial aspect often raises concerns – accepting checks for down payments. To ensure a sale, you want to provide customers with flexible payment options. This is where CrossCheck's Auto Industry RDC Solution (C.A.R.S.) program comes into play. C.A.R.S. is a suite of check guarantee solutions, which allows auto dealerships to accept checks for down payments without the risk of not getting paid. It includes RDC (Remote Deposit Capture) and Multiple Check, which lets the customer write up to four checks to be deposited at agreed upon intervals. Also included is Check on Delivery, which is especially valuable to the service department as dealerships can pre-approve payment of delivered parts orders.

Auto dealerships often find themselves grappling with the dilemma of ensuring a smooth payment process while maintaining customer satisfaction. Surcharging fees on credit card payments can quickly complicate that process. As dealerships strive to strike a balance between profitability and customer happiness, embracing checks emerges as a refreshing and profitable alternative. And with CrossCheck in your corner, the inherent risk in accepting checks can be completely nullified with guaranteed payment.

It’s a rite of passage for many young fathers: buy a boat and take your kids out on the water to enjoy the sun and the rippling currents. Depending on their age, maybe even let them steer on occasion. And despite a difficult economy, that rite of passage seems an enduring tale.

All motorcycle manufacturers have been rejoicing as sales increased dramatically during the first half of this year, following an almost disastrous 2020. For instance, Italian manufacturer Ducati posted a 33% increase for Q1, while Harley-Davidson notched a 24% uptick for Q2.

Over the last few years, an interesting development has occurred in the business of selling new cars — a glut of off-lease vehicles has hit the market. Let’s take a look at what this means to dealers and consumers. During the new vehicle sales bonanza of 2014 – 2016, records were set for annual sales, and surprisingly, about a third of those sales ended up as leases. By the end of 2019, an estimated 12 million low-mileage cars were coming off lease to create the glut of off-lease vehicles. First, a recap of how leasing works. There is an up-front cash payment, and then you make a monthly payment for typically 24 or 36 months, with an option to do a buyout at the end of the lease. In theory, you are just paying for the depreciation during that time.

Many people prefer paying by check according to the 2016 Federal Reserve Payments Study. Checks declined by processing companies harm auto dealerships where losing a sale to just one declined check can have far-reaching consequences. For example, one declined check for a down payment could result in the loss of three sales equaling a total of $146,000 if several values are considered (see the below infographic).

Doug Watkins is an old-school guy. He’s been in construction all of his adult life, working his way from laborer to foreman in 10 years, and eventually to the owner-operator of a small licensed construction company specializing in kitchen and bath remodels. He prefers to pay by check — especially at auto dealerships — and has never written one that has been declined at the point of sale.

In 2012, a Chicago area man plead guilty to writing twenty-four worthless checks to auto dealerships, including ones in Illinois and Wisconsin that lost over $70,000. And he's at it again.