WHAT TO EXPECT IN 2012
WHAT TO EXPECT IN 2012 This is the time of year that I usually get a number of calls from reporters doing those December or January ?predict the future? articles, asking me what I think will happen next in the auto sales, finance, and lease legal arena. This year, I thought I?d beat them to […]
FIVE WAYS TO TURBO-CHARGE YOUR F&I DEPARTMENT
FIVE WAYS TO TURBO-CHARGE YOUR F&I DEPARTMENT Imagine your CSI is above your regional average, you capture finance opportunities and your F&I income is taking your profitability to the next level. If you would like to get your F&I team from good to great to awesome, there are five steps to turbo-charge your F&I process […]
TAKE A DIFFERENT LOOK
TAKE A DIFFERENT LOOK French novelist Marcel Proust said, ?The real voyage of discovery consists not in seeking new landscapes but in having new eyes.? This could not be more apropos for salespeople and sales manager as they seek to understand and improve their customers? experiences. Looking at, experiencing a store, a sales process, a […]
DO YOU SEE WHAT YOUR CUSTOMERS SEE?
DO YOU SEE WHAT YOUR CUSTOMERS SEE? As we continue our conversation about Zero Moment of Truth, where customers research you and your products online, let?s not forget what the First Moment of Truth is: When people contact your dealership. I want to focus on what happens when customers get on site and how what […]
TEN TIPS FOR TAKING CREDIT APPLICATIONS OVER THE PHONE
TEN TIPS FOR TAKING CREDIT APPLICATIONS OVER THE PHONE With the increase in smartphone use, more of the car transaction process is likely to take place over the phone. That can make compliance with the Fair Credit Reporting Act more difficult. Finance managers want to be sure they protect consumers’ personal information and get their […]
Operating The Best F&I Department Means Never Using The Word Best
OPERATING THE BEST F&I DEPARTMENT MEANS NEVER USING THE WORD BEST Next to, did I get approved?, the second-most commonly asked customer question is, is this the best rate available? Simply put, the word best cannot be used when discussing the installment sale finance charge or lease money factor with a customer. What the F&I […]
10 dos and don’ts for online credit apps
10 DOS AND DON?TS FOR ONLINE CREDIT APPS Before the Internet became a car sales tool, compliance with the Fair Credit Reporting Act was clear cut: With the customer in the showroom, getting written authorization to pull a credit report is a no-brainer. That’s not true today. Finance managers and sales managers might run a […]
CLASS ACTION LAWSUIT TRAPS
CLASS ACTION LAWSUIT TRAPS With class action lawsuits, a minor oversight repeated across multiple customers can easily grow into a big source of risk and cost. Here are 8 areas with the most frequent and severe claims: ? Truth in Lending Act (TILA): Effective July 21st, the dollar threshold for consumer credit and lease transactions […]
DEALERSHIP WORST PRACTICES by Thomas Hudson
DEALERSHIP WORST PRACTICES BY THOMAS HUDSON You hear the phrase ?best practices? at conferences and 20 Group meetings to describe things that dealers do that go beyond mere compliance with the law. For instance, most dealers, as a ?best practice,? will get the customer to sign an authorization to pull a credit report even when […]
7 REASONS TO BUY GAP FROM A DEALERSHIP
7 REASONS TO BUY GAP FROM A DEALERSHIP When you offer customers a GAP policy, how do you respond if they say they have GAP through their auto insurer? Dealer consultant Ron Reahard, president of Reahard & Associates of Soddy Daisy, Tenn., gives seven reasons to tell customers why they should buy GAP from the […]
