Articles for Special Finance Dealer Operations
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.
Sunday, June 01, 2008
Marla Belson - “Some of us will do our jobs well and some will not, but we will be judged by only one thing—the result.” – Vince Lombardi
Sunday, June 01, 2008
Marla Belson - No matter how you cut it, the ultimate accountability will always be your bottom line. The salespeople’s paychecks are their report cards. The doc is ours.
Sunday, June 01, 2008
Kris Wright - Pay plans should evoke teamwork. Many stores I visit have pay plans where everyone gets paid from sales gross regardless of where it is derived from.
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...
Friday, February 01, 2008
Marla Belson - Advertising and marketing are my favorite aspects of special finance. Most of us who have been working in this field for a while have developed a certain passion for specific kinds of marketing. My passion lies with direct mail and Internet leads.
Friday, February 01, 2008
Jack Lintol - ACE has helped dealers across the country get into the subprime business or improve their existing subprime business.
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 ...
Tuesday, January 01, 2008
Kris Wright - Dealers often spend advertising dollars without tracking the “true” productivity of each medium. Since the market is more competitive than ever, we have to compete to have the most effective advertising mediums as well.
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 ...
Saturday, September 01, 2007
Newspaper advertising is expensive and ineffective at branding your business. It is absolutely amazing how much money is wasted on newspaper ads, by car dealers who use it religiously, every week.
Wednesday, August 29, 2007
“If the rate of change on the outside exceeds the rate of change on the inside, the end is near.” Change is inevitable and it’s going to happen no matter what.
Sunday, July 01, 2007
Before the days of the Internet, credit bureaus or even the telephone, bankers loaned money to consumers to purchase items that they otherwise could not afford. Banking was a professional art where the often intimidating loan officer would structure a loan around what was called the Three “C’s” of Finance –
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.