Wednesday, December 8, 2021
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Kerrigan

Will the explosive buy-sell profitability and activity continue in Q4?...

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We recently discussed today’s buy-sell market with the Kerrigan Advisors, who represents some of auto retail’s largest transactions, including Earnhardt Auto Centers’ sale of two Arizona dealerships. So on today’s show, we’re pleased to welcome back Ryan Kerrigan, Managing Director of Kerrigan Advisors, for an update on the market and we’ll also get into some of […]
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floor plan

How can floor plan financing work for used car dealers?

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There are many factors that go into a used car dealership’s success or failure — customer service, management, and just plain ol’ luck — but one of the most overlooked is intelligent floor plan financing. Unfortunately, many dealers ignore the last factor, only realizing their mistake once their business is struggling — or worse, at […]
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credit

Are credit constraints a precursor to another financial bubble?

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If a recent MSNBC story and reports of what is happening at Barclay Bank are any guide, a blind hairpin turn could be ahead. Is the lending industry able to make the turn? No one will disagree that it’s been a challenging time to sell cars. From a slowdown in 2019 to the pandemic that […]
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Experian report highlights intriguing Q4 2020 automotive financing data

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2020 shook up many expectations regarding automotive sales and affordability. With consumers facing job losses due to the pandemic, much felt up in the air. Nevertheless, new findings by Experian are showing that the actual results of last year are not as dismal as they may have appeared, particularly when it comes to the sale […]
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subprime

Tips for working with subprime customers today

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Your dealership has an established brand of customer. That’s not to say you won’t sell to anyone who has the money, but you know there’s a preference on who your future vehicle ownership might be. For most dealers, the prime customer is a target, but these days, more and more dealers are looking at subprime […]
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subprime

Working with Subprime Shoppers Part of the New Normal?

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The US economy will rebound, as it always does. Between today and an eventual stabilization, there are bound to be significant challenges for business and consumers alike. Retailers like JC Penney, J Crew, and Neiman Marcus have filled for bankruptcy among the disruption, and Fitch Ratings forecasts that institutional loan default rates will climb from […]
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tire store

Top of Mind Selling Prevents the Lost Sale

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Successfully selling a high number of tires each month involves constant and consistent communication with your clients. For a lot of customers tires are something they do not think about until they need them and then they seem to think of an independent tire store  as the go-to-place rather than the dealer. The problem is […]
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wall street

Is Wall Street Making It Harder to Buy a Car?

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On countless occasions in recent years, the U.S. auto industry has relied on cheap and easy credit from Wall Street to get it through rough patches. Not this time. With both bad loans and interest rates on the rise, financial institutions are becoming more selective in doling out credit for new-car purchases, adding to the […]
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