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Tom Herald - As the $200 Billion TALF (Term ABS Loan Facility) ether starts to wear off, it is going to be interesting to see what happens to non-prime automotive finance for the remainder of the year.
Read More →Tom Herald - Customer relationship management (CRM) software and systems can be an incredible waste of time and money, and the resulting exposure to liabilities is an ever-growing concern for the small business owner. These systems can also be the most valuable tool available to stabilize revenue and grow your business, and the difference starts at the top.
Read More →Tom Herald - In order to gain a more clear vision of the future, we must first have a solid understanding of our past.
Read More →Tom Herald - Have you ever noticed the differences between really good companies that stand out among the competition and those others that just seem out of step? How about sports teams? Why did the Bruins dominate the Canadians during the first round of the Stanley Cup? Why do Roger Penske and Rick Hendrick routinely field championship racing teams? And, why is Richard Branson so successful? The one common difference that all successful businesses, sports teams or organizations share is r
Read More →Tom Herald - Special finance is continuing to evolve at a rapid pace. The demand for financing is growing as consumer credit shifts lower on the spectrum and several national non-prime lenders scramble for cash during the credit crisis. This combination of events has created a very challenging dilemma for many car dealers—how to finance customers in the “no-man’s land” of credit? This tier I am calling the “no-man’s land” is for customers with credit scores
Read More →Tom Herald - Every high-performing sales organization is led by a manager who has the answers to 10 common performance questions that separate the strong from the weak. Your answers to these questions will be your compass for action and execution. They are your roadmap for improving sales ...
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Tom Herald - When it comes to the car business, 2009 is not much different than 1980. The details, circumstances and causes for the recession were different but the end effect on the car dealer was basically the same. Credit was very limited if not non-existent. Thirty years ago Chrysler, led by Lee Iacocca, was pleading in front of Congress for some sort of financial relief. Unemployment was ...
Read More →Tom Herald - Full-spectrum financing is an absolute necessity for car dealers today. It affords them the ability to offer vehicle-purchasing options to every customer who visits the store, regardless of their credit and with less emphasis on down payment. It removes an important limiting factor from the typical sales process and, if done correctly, will help dealerships create ...
Read More →Tom Herald - Let’s hope and pray that 2009 is better to car dealers than the last two years have been, but instead of just hoping and praying that business will turn around this year, take matters into your own hands and aggressively storm the market with a positive mental attitude, focused actions and ...
Read More →Tom Herald - It didn’t take much talent or effort to sell a vehicle to these credit-challenged consumers ... From my perspective, it was like selling water to a man dying of thirst. The real challenge of the sell was getting ...
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