Articles for Finance & Insurance Experts

There are many strategies that have developed over the past several years to positively influence customer retention. Customer loyalty programs with a points reward system and special discount pricing on select dealership services provide some level of success.

Kirk Manzo - The root of the word “motivation” comes from the Latin word “motivus” meaning to move or take action. So what moves your people to take action?

Kirk Manzo - Ask every manager at your store to write down the complete sales and F&I process. How many different versions might you receive? How well-defined is your sales and F&I process?

Kirk Manzo - Mastering the skills needed to perform at the highest level of anything requires time and effort. When was the last time you actually worked on your business rather than just in it?

Randy Henrick - You probably know that the Federal Trade Commission (“FTC”) delayed the enforcement date for the Red Flags Rule, but that’s just one piece of the puzzle. Compliance with the Red Flags Rule may prove to be the best thing you can do for your dealership, especially if you are located in a high-identity-theft state such as Arizona, Nevada, California, Texas, Colorado, Florida or New York. The dealer and the dealer alone is the loser when an identity thief buys a car, and just one sale can really cost you.

Kirk Manzo - There are three primary ways we all take in information: visual, auditory and kinesthetic. In other words, we see, hear and touch to learn. How well do you incorporate all three elements during your product presentations? In order to incorporate...

Mark O'Neil - Aftermarket products are an essential profit center for your dealership, but during an economic slump, boosting these sales is crucial. Although you may be seeing fewer buyers in your showroom, you can compensate for less volume by ensuring your F&I department is maximizing every deal.

Daryl Allegree - While most auto dealers already have systems in place to verify the identity of their finance and lease customers, their current systems may not be in compliance with the new, more elaborate requirements called the “Red Flags” Rule.

Mark O'Neil - Compliance with the new Rule is mandatory by Nov. 1, 2008. Your program must be appropriate to the size and complexity of your dealership and the nature and scope of your activities, and your board of directors must approve the initial program.

Steve Cline - If you want to protect your investment, you must consider the Coverage, Carrier and Contract. Dealerships invest significantly in both property and inventory.