Articles for Finance & Insurance Experts
Thursday, March 19, 2009
Kirk Manzo - With volume scarce, the F&I office becomes critical to operational cash flow for the dealership’s very existence. F&I managers become key players and must ensure they are consistent in their process to extract maximum revenue from each...
Friday, December 19, 2008
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.
Tuesday, November 25, 2008
Becky Chernek - To often, manager assume they know the reasons customers reject particular products and fail to learn the rationale behind customers' decisions.
Sunday, October 26, 2008
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.
Thursday, October 09, 2008
Kevin Day - Most people know and understand what typical insurance is; insurance is the means of guaranteeing against loss or harm. What people don’t understand (and during my 13 years as a dealer I didn’t understand this either) is RRGs. An RRG is ...
Tuesday, September 09, 2008
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.
Monday, August 11, 2008
Steve Cline - Criminals are more savvy, and the amount of legislation impacting dealerships is on the rise. Other pressing issues and relatively new risks that insurers need to address are:
Friday, April 25, 2008
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.
Friday, March 07, 2008
Becky Chernek - Well-trained sales personnel know that determining the payment budget of customers on the lot will not ensure their approval by the bank source. Many customers have been schooled to quote a much lower payment than the one they have in mind.
Monday, February 04, 2008
Richard Costello - Simply change to a pricing model that numerous other industries – including mine – have used successfully for many years. They adopted a variable wholesale rate structure that would increase ...
Monday, January 14, 2008
Raj Sundaram - To help mitigate risks, your dealership must do more than have compliance policies in place, it must also enforce them.
Wednesday, November 28, 2007
Becky Chernek - It’s that sneaky system where the sales manager works out deals by getting customers to settle on only a monthly payment. Then, he sends them into the finance manager to close the deal
Saturday, September 08, 2007
Becky Chernek - Proper use of the menu means that these managers can present 100 percent of their products to 100 percent of their customers 100 percent of the time.
Sunday, July 29, 2007
Glen Roberts - Deal structuring was all about trying to maximize profit for the store and getting the deal bought. Often times this meant switching the customer to a cheaper car, getting the customer a co-signer or getting more down payment.
Wednesday, June 27, 2007
Mark O'Neil - Unlike traditional ink-on-paper documents, electronic contracts travel at nearly the speed of light. Since they move so quickly, they can be reviewed and approved faster. For dealers, the additional speed translates into ...
Sunday, June 17, 2007
Becky Chernek - A mind deal occurs when a sales manager finalizes negotiations with a customer on extended terms with no money down—generally utilizing subvented interest rates—and the customer demonstrates a serious delinquent payback history.
Monday, May 28, 2007
Glenn Roberts - Everyone agrees that being in the F&I office too long is a bad thing, but a trip to the F&I office is another opportunity to make money. Let’s discuss why too much time in the F&I office is bad and how you can change it.
Thursday, March 01, 2007
Mark O'Neil - Many front-line managers and sales consultants are skeptical of leasing, even though the lower consumer cost would make it easier to move more units per month. Why?
Tuesday, November 28, 2006
Chris Lewis - Many experts predict that the levels will return to “normal” but will not drop ... they may not file bankruptcy, but their accounts will still be charged off.
Wednesday, October 25, 2006
Michael Kinnear - Do you know a BHPH customer profile when you see one? Some characteristics might be: ...