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Brent Carmichael - It’s that time of year again. Time to make hay while the sun is shining, so to speak. It’s tax time. And if the competition for those tax dollars hasn’t challenged BHPH dealers enough, the current economic conditions have not made the pursuit ...
Read More →Dave Keller - If you did not have a good year, your lender’s collateral has probably decreased and their risk has likely increased. When risk increases, banks become nervous. Most bank loan agreements have loan covenants that customers (you) must ...
Read More →Otis has always believed special finance could be a lucrative profit center at Ideal Auto, despite not seeing much success with previous efforts. A few months ago, he made the decision to hire an outside SF consultant to help Ideal restart a department that never truly made it off the ground...
Read More →Market conditions have a smaller impact on the BHPH dealer because their typical customer is already in a poor financial situation, usually earning $10 to $12 an hour. They have a monthly income of $1,600, but their expenses average $1,800 so they...
Read More →Tim Feazell - While there have always been concerns with key control and theft of vehicles, today there is a new hot item on the lot: catalytic converters. If dealers do not move their inventory on a regular basis, they may not realize the converter is...
Read More →Kevin Day - During the 12 years I spent as a dealer, it seemed someone was always trying to sell me something. I put my “guards” in place to thwart these avid peddlers, and thus I would avoid most of their sales pitches. However, in doing this I often...
Read More →Joe Benson - Automotive dealerships are on the lookout for innovative technology that requires a minimum investment, while creating excitement, building customer retention, increasing profits. ... is easily understood, inexpensive to incorporate...
Read More →For dealers today, subprime auto financing can certainly feel like an uphill battle. Many dealerships that are successful in special finance today are fighting for the small victories.
Read More →At an elementary level, dealers have Web sites to generate business, but to get the most out of the Web, dealers need much more than an elementary-level Internet strategy—especially if they expect their Web site to drive quality traffic.
Read More →When it comes to what vehicles to present to a special finance customer, Richards takes a somewhat different approach than others in the business. He believes in allowing the customer to look at the vehicle they are interested in, rather than restricting them to only a few options selected for them. He reported having success with this method, ...
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