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April 2009, Auto Dealer Today - WebXclusive

Copywriting: The Foundation of All Great Advertising

By Rob Anderson

Rob Anderson - The headline is the most important aspect of any type of advertising. There are several ways to approach a headline. Most popular for me is the problem/solution headline. I deal a lot with credit, so the most prominent example is...

Tags: BDC

April 2009, Auto Dealer Today - WebXclusive

Develop a Multi-State Survival Mode

By Hal Scott

Hal Scott - A few wrong decisions today and even those dealers fortunate enough to have old family money could easily be gone. This is not a revelation for many of you, as fear for financial survival has savagely ripped through every...

Tags: BDC

April 2009, Auto Dealer Today - WebXclusive

Five Perils the Independent Dealer Should Avoid

By Ben Donnarumma

Ben Donnarumma - “Business at buy-here, pay-here dealerships is picking up as bigger, nationwide subprime lenders tighten credit, or quit the business. As other lenders raise their standards, buy-here, pay-here dealerships are the only option for...

Tags: BDC

April 2009, Auto Dealer Today - WebXclusive

Could-Do v. Should-Do Attitude, Focusing on the Immediate Picture

By Jason Ezell

Jason Ezell - Now is a time to focus small. It's a time to not only look at the big picture, which is, frankly, a bit overwhelming and even a little scary, but to focus on the smaller, more immediate picture ...

Tags: BDC

April 2009, Auto Dealer Today - WebXclusive

Part Two: Outsource to In-House BDC's - The Preparation Stage

By Glynn Rodean

Glynn Rodean - During the preparation stage, most business development efforts should be outsourced, and the dealership will assume the bulk of the business development duties in the final stage.... The preparation stage involves four crucial steps:

Tags: BDC

April 2009, Auto Dealer Today - WebXclusive

Back to the Basics of Simple Operational Procedures and Processes

By David Keller, CPA, CFE

David Keller - You may not be able to control the new car market, the economy in general or the finance companies, however, what you can do is take another hard look at your business and figure out what is working for you. Meet with your managers weekly to...

Tags: BDC

April 2009, Auto Dealer Today - WebXclusive

Good Lawyering Pays Off in Defense of GAP

By Thomas B. Hudson, Esq.

Thomas B. Hudson, Esq. - Lawyers who make their livings suing car dealers have latched onto yet another way to get their hands into dealers’ wallets. A slew of class action lawsuits around the country allege claims against dealers when...

Tags: BDC

April 2009, Auto Dealer Today - WebXclusive

Stop Telling and Start Selling

By 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...

Tags: BDC

March 2009, Auto Dealer Today - WebXclusive

The Key to Maximizing Current Showroom Traffic

By Greg Goebel

Greg Goebel - Selling opportunities have always been too precious to squander, but now, it can cost a dealer the store. The bottom line is that in order to succeed in today’s special finance market, you must be able to quickly distinguish a ...

Tags: BDC

March 2009, Auto Dealer Today - WebXclusive

The Daunting Task - CRM Service Selection

By Jennifer Murphy Bloodworth

Jennifer Murphy - Dealerships across the country are jumping on the Customer Relationship Management (CRM) bandwagon. Are you on it? If not, you are likely in the CRM minority because CRM is gaining momentum across the country. According to a J.D. Power and Associates study, 86 percent of customers that purchased a new car were ...

Tags: BDC

March 2009, Auto Dealer Today - WebXclusive

Making Wise Decisions

By Harlene Doane

Harlene Doane - The decisions to slash personnel may have the biggest long-term impact on many dealerships and it might not create the anticipated effect. In the short run, it does reduce expenses, but at what cost? The hardest thing to replace in a dealership is good talent. You just can’t afford to make the wrong personnel decisions ...

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March 2009, Auto Dealer Today - WebXclusive

Four Great Legal Tips - by Tom Hudson

By Harlene Doane

Four Great Legal Tips

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March 2009, Auto Dealer Today - WebXclusive

Four Free Resources

By Harlene Doane

Four Free Resources

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March 2009, Auto Dealer Today - WebXclusive

Five Ways to Save Time

By Harlene Doane

Five Ways to Save Time

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March 2009, Auto Dealer Today - WebXclusive

Fourteen Money Making Ideas

By Harlene Doane

Fourteen Money Making Ideas

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March 2009, Auto Dealer Today - WebXclusive

Twenty-One Ways to Save Money

By Harlene Doane

Twenty-One Ways to Save Money

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March 2009, Auto Dealer Today - WebXclusive

Ten Fundamentals of a Business Plan

By Tom Herald

Tom Herald - Let’s hope and pray that 2009 is better to car dealers than the last two years have been, but instead of just hoping and praying that business will turn around this year, take matters into your own hands and aggressively storm the market with a positive mental attitude, focused actions and ...

Tags: BDC

March 2009, Auto Dealer Today - WebXclusive

Wise Decisions This Year

By Harlene Doane

Harlene Doane - The decisions to slash personnel may have the biggest long-term impact on many dealerships and it might not create the anticipated effect. In the short run, it does reduce expenses ...

Tags: BDC

March 2009, Auto Dealer Today - WebXclusive

Training Your Staff - Upfront Pricing System to Increase Profits

By Jacob Lawson

Jacob Lawson - Seventeen percent of consumers thought a dealership should make over $2,500, while 18 percent thought up to $2,500. Another 21 percent were willing to let go of $2,000 ...

Tags: BDC

March 2009, Auto Dealer Today - WebXclusive

A Half Hour Can Save the Farm

By Hal Scott

Hal Scott - Success today requires strong fixed coverage. Your service, quick service, parts, body and detail departments have to be “dialed-in.” Adding 0.5 hours to each repair order in service, quick service and body shop is not just...

Tags: BDC

March 2009, Auto Dealer Today - WebXclusive

Moving Toward Excellence

By Jim Jackson

Jim Jackson - He was as profound in his thinking as he was in his execution and so focused on his vision that strategies were in place to correct actions that could be counter-productive to the vision. His belief in being sovereign was so strong, he actually created cooperation with ...

Tags: BDC

March 2009, Auto Dealer Today - WebXclusive

Protecting your Reputation Onlne

By J.D. Rucker

Jim Rucker - Taking the steps necessary to defend your reputation and make it stronger on the search engines could be the difference between you getting a sale and your competitors getting that sale...

Tags: BDC

March 2009, Auto Dealer Today - WebXclusive

Five Key Elements to F&I Revenue

By Kirk Manzo

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...

Tags: BDC

March 2009, Auto Dealer Today - WebXclusive

Looking Back Before Moving Forward

By Ryan Linnehan

Ryan Linnehan - They say, “Hindsight is 20/20.” Well, I’m not sure who “they” are, but “they” do bring up a good point. The passage of time will often provide us with a new perspective as we review the results of what has already happened. Not only that, but ...

Tags: BDC

March 2009, Auto Dealer Today - WebXclusive

Dealer Web Sites Gain Traction

By Jason Ezell

Jason Ezell - With 52 percent of shoppers visiting dealership Web sites, dealership Web sites are now the second most visited sites by automotive Internet shoppers during their buying process ...

Tags: BDC

March 2009, Auto Dealer Today - WebXclusive

Class Certification Motion Defeated in "Unauthorized Practice of Law" Case

By Thomas B. Hudson, Esq.

Thomas B. Hudson, Esq. - In several jurisdictions around the country, dealers have been hit with class action lawsuits alleging that the dealers’ actions in completing legal forms such as buyer’s orders and retail installment contracts constitute...

Tags: BDC

March 2009, Auto Dealer Today - WebXclusive

The 40,000-ft View of Outsourcing to In-House BDC's

By Glynn Rodean

Glynn Rodean - Can a dealer begin business development as an outsource service and transition to an in-house operation? My answer to that question is a resounding “yes.” Of course, that “yes” comes with a few ifs. This route will work if...

Tags: BDC

March 2009, Auto Dealer Today - WebXclusive

Bursting the 30-Plus Year Bubble

By Greg Goebel

Greg Goebel - Dealers say consumer credit doesn’t exist. Certainly, some banks and finance companies have perished. Others have merged, while others have had their access to capital greatly reduced. Guess what? To create revenue banks still have to loan money. Credit is still available, even to subprime credit customers. The difference is that ...

Tags: BDC

March 2009, Auto Dealer Today - WebXclusive

'Tis Tax Time Again

By Brent Carmichael

Brent Carmichael - It’s that time of year again. Time to make hay while the sun is shining, so to speak. It’s tax time. And if the competition for those tax dollars hasn’t challenged BHPH dealers enough, the current economic conditions have not made the pursuit ...

Tags: BDC

March 2009, Auto Dealer Today - WebXclusive

Those Pesky Loan Covenants

By David Keller, CPA, CFE

Dave Keller - If you did not have a good year, your lender’s collateral has probably decreased and their risk has likely increased. When risk increases, banks become nervous. Most bank loan agreements have loan covenants that customers (you) must ...

Tags: BDC

March 2009, Auto Dealer Today - WebXclusive

Ideal Auto Forges Ahead in Special Finance

By Kimberly Long

Otis has always believed special finance could be a lucrative profit center at Ideal Auto, despite not seeing much success with previous efforts. A few months ago, he made the decision to hire an outside SF consultant to help Ideal restart a department that never truly made it off the ground...

Tags: BDC

March 2009, Auto Dealer Today - WebXclusive

Considering BHPH

By Harlene Doane

Market conditions have a smaller impact on the BHPH dealer because their typical customer is already in a poor financial situation, usually earning $10 to $12 an hour. They have a monthly income of $1,600, but their expenses average $1,800 so they...

Tags: BDC

March 2009, Auto Dealer Today - WebXclusive

A New Target for Thieves - Catalytic Converters Disappearing

By Tim Feazell

Tim Feazell - While there have always been concerns with key control and theft of vehicles, today there is a new hot item on the lot: catalytic converters. If dealers do not move their inventory on a regular basis, they may not realize the converter is...

Tags: BDC

March 2009, Auto Dealer Today - WebXclusive

Controlled Foreign Corporations Generate Long-Term Profits

By Kevin Day

Kevin Day - During the 12 years I spent as a dealer, it seemed someone was always trying to sell me something. I put my “guards” in place to thwart these avid peddlers, and thus I would avoid most of their sales pitches. However, in doing this I often...

Tags: BDC

March 2009, Auto Dealer Today - WebXclusive

Seven Reasons for Nitrogen Tire Inflation Services

By Joe Benson

Joe Benson - Automotive dealerships are on the lookout for innovative technology that requires a minimum investment, while creating excitement, building customer retention, increasing profits. ... is easily understood, inexpensive to incorporate...

Tags: BDC

March 2009, Auto Dealer Today - WebXclusive

Battleground Kia - Winning the Battle for Subprime Success

By Jennifer Murphy Bloodworth

For dealers today, subprime auto financing can certainly feel like an uphill battle. Many dealerships that are successful in special finance today are fighting for the small victories.

Tags: BDC

March 2009, Auto Dealer Today - WebXclusive

Academy Cars

By Jennifer Murphy Bloodworth

At an elementary level, dealers have Web sites to generate business, but to get the most out of the Web, dealers need much more than an elementary-level Internet strategy—especially if they expect their Web site to drive quality traffic.

Tags: BDC

March 2009, Auto Dealer Today - WebXclusive

Keystone Ford Sticks with Special Finance

By Kimberly Long

When it comes to what vehicles to present to a special finance customer, Richards takes a somewhat different approach than others in the business. He believes in allowing the customer to look at the vehicle they are interested in, rather than restricting them to only a few options selected for them. He reported having success with this method, ...

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March 2009, Auto Dealer Today - WebXclusive

McNutt Auto Transport Service

By ADM

With the increasing popularity of online auctions, finding a convenient transport solution is more important than ever. This has not gone unnoticed at McNutt Auto Transport Service.

Tags: BDC

March 2009, Auto Dealer Today - WebXclusive

Buying Inventory Online

By Tom Langas

Tom Langas - Our greatest opportunities in stocking clean, reliable used cars are through auctions that cater to new car dealers, lease companies and rental car corporations. I can only speak to inventory sourcing from my own perspective.

Tags: BDC

February 2009, Auto Dealer Today - WebXclusive

The Special Finance Customer

By Tom Herald

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 ...

Tags: BDC

February 2009, Auto Dealer Today - WebXclusive

Cover Your Assets

By Scott Dreisbach

Scott Dreisbach - I have seen many stores try to save (through expenses) themselves into a profit. This is a slippery slope and if expense restructuring isn’t thought through very carefully, many of the wrong things can be put on the chopping block. One of...

Tags: BDC

February 2009, Auto Dealer Today - WebXclusive

Why Work Twice as Hard For Twice as Much

By Rob Anderson

Rob Anderson - During this unprecedented time in economic history, we all need to ask ourselves if we’re willing to work twice as hard for half as much. Times are tough; times are uncertain. In fact, the only certainty is that things will only get...

Tags: BDC

February 2009, Auto Dealer Today - WebXclusive

Standard Processes Are Works in Progress

By Phil Dupree

Phil DuPree -Standard processes have been touted as a “must-have” for dealerships that want to ensure all leads are properly – and optimally – worked. The belief is that if everyone in the dealership follows the same response formula ...

Tags: BDC

February 2009, Auto Dealer Today - WebXclusive

Why You Shouldn't Delay Your Red Flags Program

By Thomas B. Hudson, Esq.

Thomas B. Hudson, Esq. - We are urging dealers to move with urgency to get their Red Flags programs in place quickly—long before the end of this 6-month enforcement grace period granted by the FTC. Why? Three reasons, and they may apply to...

Tags: BDC

February 2009, Auto Dealer Today - WebXclusive

Five Ways to Better Manage Marketing Costs

By Daymond Decker

Daymond Decker - Managing marketing costs and maximizing spend have always been a critical part of running a successful dealership, yet in this economy, superior allocation of limited marketing resources can make all the difference ...

Tags: BDC

February 2009, Auto Dealer Today - WebXclusive

Think FAST - Reshaping the Future with Business Strategy

By Tom Herald

Tom Herald - According to NADA, roughly 60 franchise dealers per month—that’s two per day—are closing their doors or downsizing to used car lots. They are literally being hammered financially by the economy, and many won’t survive. We stand to lose roughly 3,000 franchise and another 5,000 independent dealers by mid-2009. So, what is there to look forward to next year? The answer is ...

Tags: BDC

February 2009, Auto Dealer Today - WebXclusive

Critical Success Factors of Leadership

By Jim Jackson

Jim Jackson - All across America, businesses invest time, energy and resources in different leadership programs, and why not? Leadership makes a difference. There are as many different opinions as to what leadership means as there are cars on the road and there are as many different and effective leadership styles as there are ...

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February 2009, Auto Dealer Today - WebXclusive

Internet Do's and Don'ts

By Ben Donnarumma

Ben Donnarumma - Buy here pay here dealers need the Internet too. If you are a car dealer today and don’t have a presence on the Internet, you might as well be out of business. The Web and your Web site are too important to sales and marketing, and doing business today without being online would be like trying ...

Tags: BDC

February 2009, Auto Dealer Today - WebXclusive

Carolina Dealer Forecast Bright Future - Ingram Walters Find Profit Center in Down Market

By Kimberly Long

Kimberly Long - Griffin’s Credit Quick began as just a single desk in the corner of the new-car dealership’s showroom and later moved into the group’s Isuzu store. Eventually, the Isuzu franchise was sold to allow the BHPH business to expand...

Tags: BDC

Blog

On-the-Point

Jim Ziegler
All Things Must Pass

By Jim Ziegler
Ziegler mourns the loss of Gregg Allman as Ford and Hyundai shake up their leadership teams and Carvana struggles to stay afloat.

Join the Battle of Jericho

By Jim Ziegler
Ziegler has harsh words for the so-called geniuses behind escalating factory incentives, political support for autonomous vehicles, AutoNation's 'millennial-friendly' pay plan, and the Carvana IPO.

Don't Run, We Are Your Friends!

By Jim Ziegler

The Future Ain't What It's Cracked Up to Be

By Jim Ziegler

Opening Observations

Over the Curb