Thursday, October 21, 2021
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F&I

The chip shortage and how F&I is being impacted

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In a year when dealers have been looking forward to trying to put the worst of the pandemic behind them, now there is a new crisis,  and one that many did not or could not see coming. No OEM is immune now and dealer lots all across the country are reeling with low inventory available. […]
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F&I

Manage customers’ F&I time expectations with 3 simple strategies

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One of the most delicate balancing acts in the sales process is dealing with the amount of time it takes to actually deliver the car to the buyer. Dealership personnel often don’t realize how laborious this part is for the buyers, from coming to the store, choosing the car or truck, dealing with add-on’s, the […]
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Lucid Motors

Lucid Motors going public in SPAC merger

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The luxury electric car maker Lucid Motors will become a publicly traded company, opening up access to billions of dollars in funding. Lucid is set to merge with special purpose acquisition company (SPAC) Churchill Capital IV Corp (CCIV) at a $11.75 billion combined equity valuation and a $24 billion pro-forma equity value. Churchill Capital’s founder, […]
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private

Private equities are acquiring F&I administrators. Is it hurting your...

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In the last few decades, private equity firms throughout the US have been buying up businesses across industries with the intention of turning ailing brands around that have hit hard times. They bring their deep pockets to the table under the assumption that the extra cash/credit and effort to restructure debt will give a company critical […]
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trade

Tips to enhance the trade-in appraisal process

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In the United States, 43% of new car sales include a customer’s trade-in. 22% of pre-owned sales have a trade involved. Altogether, nearly 16 million trade-ins are taken in by dealerships in the US annually if you extrapolate on NADA Data. However, nearly all car buyers at the dealership already own a vehicle, and very […]
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Black Friday

Lower volume, higher profits the name of the game for...

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In yet another twist on a topsy-turvy year, Black Friday car deals are expected to be less aggressive than they have been in previous years. The prediction comes from industry experts who see an ongoing new car inventory shortage, particularly on the most in-demand models, helping manufacturers and dealers hold profits.  Through October, Edmunds has […]
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deal

The 7 Most Effective Words for Closing a Deal

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If you have been in the car business for any length of time, you have most likely heard of a concept taught by some as the ABCs of selling. This teaching infers that during every step in the sales process you should Always Be Closing the sale, in your mind and in every action you […]
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good note

Starting and ending the day on a good note

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Start and end your day on a good note. Mark Tewart wants you to do everything you can to make today worth celebrating on today’s Saturday Morning Sales Meeting.
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Becky Chernek

Don’t Wait For The Deal To Come To You

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The F&I Manager has little to no interaction with customers until they step into your office. Becky Chernek says it does not have to be this way and suggests doing this to change it up. You can access all of our tips from more than 10 trainers including Becky, right here on demand 24/7. VIDEO TRANSCRIPT: […]
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