Articles for Special Finance Experts
Saturday, February 09, 2008
Greg Goebel - Fast funding must be the culture of the dealership. For some dealers, that means a significant change of policy. Every dealer must set their own internal standards. I preferred the...
Friday, February 01, 2008
Greg Goebel - So, I will say it. There are times when I believe it is OK to overspend your ad budget.
Monday, December 24, 2007
Greg Goebel - I divide “Systems” into four areas that need continual attention, and where loss of focus will quickly cause loss of sales or profits. Those four areas include ...
Saturday, December 15, 2007
Greg Goebel - Dealers that are seeing their net profits disappear, simply cannot afford to have underperforming finance and insurance departments. If a store is selling 60 to 70 units per month, struggling to break even and averaging less than ...
Wednesday, December 12, 2007
Greg Goebel - It can be overwhelming when it comes to trying to comply with the dizzying number of laws and regulations that auto dealers are faced with, which often which can be contradictory.
Thursday, November 15, 2007
Greg Goebel - While it is reported that the average Beacon score is a 685, banks consider anything below a 720 Beacon or FICO score as non-prime credit. With credit unions the bar is set slightly lower, with 680 being the line at which prime credit begins.
Tuesday, November 13, 2007
Greg Goebel - The most cost effective way to advertise is one of the easiest and most overlooked—references given by your existing SF traffic on their credit applications. Finance companies ask for a minimum of six references on credit applications.
Wednesday, September 19, 2007
Greg Goebel - Efficient marketing is achieved in automotive retail when the total numbers of customer opportunities equals the maximum number that the sales team can properly handle.
Wednesday, August 08, 2007
Greg Goebel - The credit status of the customer should already be established, and once the customer arrives at the dealership the sales process is already set...
Wednesday, August 01, 2007
Greg Goebel - Gross profit makes the world go ‘round. You can’t spend a “unit,” a “deal,” or any other measurement——it all revolves around the gross. What then, does it take to earn that gross, and what exactly should our target be?...
Thursday, July 12, 2007
Greg Goebel - The phone call is the desired result of most sub-prime advertising and it is the way that three out of four sub-prime sales begin. The inability to convert initial contacts into dealership visits will easily undermine the most successful...
Sunday, June 24, 2007
Greg Goebel - The easy way for a new-start company to gain market share was to offer greater advances – and that they did. Through the mid-90s dealers saw some really aggressive programs as new companies entered the market...
Sunday, May 20, 2007
Greg Goebel - Any way you view it, if you expect to add incremental growth, you must have more people lest you cannibalize your existing business. Keep in mind the benchmark SF closing ratio of 17 percent, or roughly one out of six leads...
Tuesday, March 27, 2007
Greg Goebel - Second of Ten Critical Components of Special Finance-When you are considering inventory for SF, think of one thing – collateral...
Thursday, February 22, 2007
Greg Goebel - It starts with the basics – 10 Critical Components – and the very first component, the most important of them all, is Commitment.
Friday, January 12, 2007
Greg Goebel - There are really three places to find the individuals that should become your best SF manager candidates ...
Monday, November 27, 2006
Greg Goebel - Regarding department structure, much has to do with which ‘pool’ of customers the dealership wishes to swim in. Three pools exist for most dealerships initially.
Thursday, November 16, 2006
Greg Goebel - Some have asked me, “Do we ever really need to draw a line in the sand?” Well, yes, no and sometimes. Flip a coin. It really depends on the structure of either your department or your selling process.
Thursday, October 19, 2006
Greg Goebel - There I go again using that awful “T” word. Training: The thing everyone needs, but few seem able to find time to deliver.
Friday, September 29, 2006
Greg Goebel - The average funding time for SF deals, starting from the time the vehicle crosses the curb until the collected funds are available in your checking account, is 14 days ... The target should be seven days ...