Articles for Special Finance Dealer Operations
Wednesday, July 07, 2010
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.
Tuesday, October 20, 2009
Tom Herald - In order to gain a more clear vision of the future, we must first have a solid understanding of our past.
Monday, June 08, 2009
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 ...
Monday, April 13, 2009
Jacob Lawson - How many times have you bent over backwards to put a special finance deal together? How many times have you been able to get the same deal done when those customers come back ready to trade in their vehicle? I think you will find the answers to those questions to be at completely different ends of the spectrum ...
Friday, February 27, 2009
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 ...
Saturday, November 22, 2008
Tom Herald - In special finance, the customer's buying power needs to be determined effectively and discretely long before ever presenting a vehicle.
Wednesday, August 20, 2008
Tom Herald - Since many of your competitors are miserable at creating fantastic customer experience, this creates a huge competitive opportunity for you. Here are five simple starting points to create the greatest customer experience ever ...
Friday, July 04, 2008
Tom Herald - There are five basic steps that will help keep your deals on track. Car dealers who follow these five steps consistently will be successful and maximize the gross profit on every deal, every time.
Thursday, February 28, 2008
Tom Herald - People who have bad credit are in their situation because they don’t have enough money! Money is always a factor with special finance and always will be. The solution to this universal finance problem is simple...
Thursday, January 31, 2008
Tom Herald - Creating a great customer experience is both incredibly simple and the hardest thing you'll ever do. There is nothing magic or mysterious about it, but you have to turn your mind inside-out.
Wednesday, January 09, 2008
Tom Herald - In order to direct a customer away from specific vehicles, bypass price, ask for significant down payments and still structure profitable deals, you must have a program to sell. In special finance, this program is ...
Saturday, December 08, 2007
Tom Herald - An effective salesperson must strictly adhere to the Cardinal Rule of Special Finance: Always conduct a thorough needs analysis. It is amazing how much information a customer will provide if we ...
Monday, November 05, 2007
Tom Herald - The number of approvals the banks gives, the ability to collect on each loan, and your profits will all increase dramatically if you focus on deal structure before ever ...
Saturday, September 15, 2007
Mark O'Neil - Not just any customer is the right candidate for your sub prime program. This type of loan can be uncertain; it takes staff training, a solid software partner and a skilled eye to determine whether the benefits outweigh the risks.
Friday, September 14, 2007
Tom Herald - Whenever customers ask the price of a vehicle they are only requesting information, and this question is the first line of dialogue. A salesperson that cannot effectively answer the question is ...
Tuesday, March 13, 2007
Tim Randall - The truth of the matter is that with Internet leads, every sale costs the same as every no-sale in advertising dollars. The difference is one produces a profit, the other none.
Monday, December 25, 2006
Tim Randall - Think of a Special Finance Internet lead provider as a “can of nuts” distributor. Typically the type of nuts you purchase depends on your taste and budget.
Friday, December 22, 2006
Dan Henderson - I’ve often taken the lock down approach to marketing a special finance department.
Monday, December 18, 2006
Mark O'Neil - Savvy dealers take advantage of profit management tools to match the customer’s maximum monthly payment with all available vehicles, increasing the chances of finding one the customer will want.
Friday, September 29, 2006
Tim Randall - If it isn’t making money for you, it should be called a “loss center.” Loss centers must be avoided to ensure the health of a dealership.