How F&I Can Benefit from a Little Positivity and a Return to ‘Normal’
The headlines all throughout the media and even the industry trade publications all seem to be negative when it comes to the state of auto sales. Bad news all the way around. Sales are slow. Wholesale prices have bottomed out…
What is the State of Lending During COVID-19 and How Can F&I Adapt?
There has been a lot of talk and analysis over the last few months about how the car industry has had to adapt to changes in showroom traffic, lower sales, evaporating inventory, and even struggles in the service lane with…
Adam Marburger on How F&I Managers Can Further Support Salespeople
COVID-19 has dramatically changed almost every department in the dealership and F&I is no exception. Creating a high level of consumer engagement early on in the transaction is of the utmost importance, and the pandemic has pushed F&I managers to…
How This Expanded Integration Brings Speed and Efficiency to Title Delivery – Joey Yates and Tab Edmundson
On today’s show, we’re pleased to welcome Joey Yates, Senior Director of Business Operations for Dealertrack Registration and Title Solutions and Tab Edmundson, Vice President of Client Solutions for IAA. Late 2019, Dealertrack and IAA announced an integration, bringing together…
Mastering Your Vehicle Service Contract Sales
Listen up, F&I managers: When was the last time you took a long, hard look at your service contract sales? Were you happy with the results? Do you really believe in the value of the service contract, or do you…
Time, A Major Reason for Higher PRU During COVID-19
Way back in March when COVID-19 shutdowns rolled across the US (seems like a long time ago, doesn’t it?) dealerships were one of the businesses that took an immediate hit. Showrooms and lots emptied and either transitioned to online sales…
The Characteristics that Define Truly Successful F&I Managers
Is there a reason why some F&I managers outperform by earning nearly double per car than what others do? Is it just the luck of the draw that causes some F&I managers to get all the difficult deals? The answer…
How Gaudin Ford is Bringing Remote Business to Customers’ Homes
Las Vegas, Nevada is largely an island unto itself, and in a city so reliant on tourism, the COVID-19 virus created an economic black hole that was not conducive to selling cars. While the majority of dealers across the country…
Why F&I Should Embrace Antimicrobial Protections and How to Leverage It
Antimicrobial treatments have been around for a while. Dealers are applying an interior protection, either wet or electrostatic, making the surfaces hostile to bacteria and viruses. It used to be a tough sell before this global pandemic. Customers just did…
What Do Dealerships and Bank Conversions Have to Do With TikTok?
Recently, a video by TikTok user Molly Baxter shared a shady business practice perpetrated by a few F&I managers that received thousands of views. This should get your attention! Baxter’s video should tell you exactly why customers are walking into…
HEADLINES
Auto ventures capitalize on stock market strength to push through acquisitions and IPOs
Welcome to another edition of The Friday 5 with Steve Greenfield, Founder and CEO of Automotive Ventures, an auto technology advisory firm that helps entrepreneurs raise money and maximize the value of their companies. In this episode, Greenfield takes a…
Bernie Moreno returns to auto retail with new digital technology
While the COVID-19 pandemic has created many obstacles for auto dealers, some have found ways to create opportunities in the midst of adversity. After taking a step back from the auto industry, Bernie Moreno, president of Bernie Moreno Companies, and…
Why automation is a crucial tool in today’s auto industry
In today’s fast-paced world, customers expect personalized communication that speaks to their specific needs and grabs their attention. This expectation increases the number of meaningful touches needed between a customer and a sales representative. With a smaller team, how can…
Wholesale prices begin to normalize on usual inventory levels
Dealers may start to notice the wholesale prices at auction slip back into more familiar territory. According to Manheim’s Used Vehicle Value Index mid-month report for September, wholesale used vehicle prices have decreased by 0.9% in the first two weeks…
Auto ventures capitalize on stock market strength to push through acquisitions...
Welcome to another edition of The Friday 5 with Steve Greenfield, Founder and CEO of Automotive Ventures, an auto technology advisory firm that helps entrepreneurs raise money and maximize the value of their companies. In this episode, Greenfield takes a…
The role diversity plays in your dealership’s customer communications
Welcome back to Diversity in Automotive brought to you by TrueCar and CarNow. As you look across your customer base, there are several moving parts of communications that everyone has to get right. Externally, dealers have to represent the franchise…
Conducting customer interviews online to discuss F&I options
It’s time to face a new reality. Offsite deliveries aren’t going anywhere anytime soon. COVID-19 has forever changed the way car dealers do business, quite possibly forever if not for the foreseeable future. In growing numbers, more dealers performing offsite…
