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February 2009, Auto Dealer Today - WebXclusive

Where Did All The Special Finance Customers Go?

By Greg Goebel

Greg Goebel - You have to continue your brand in the market——continue to remind people that you are able to help them, and most certainly ask for business. You simply must be prudent about what you spend and reasonable about your expectations. Forecast your deliveries and spend appropriately ...

Tags: BDC

February 2009, Auto Dealer Today - WebXclusive

Generate Sales During Tough Times

By Glynn Rodean

Glynn Rodean - While car sales and football don’t have a lot in common, right now many dealers are practicing what many football teams do when they’re trying to hold onto their lead until the end of the game—the prevent defense. A team with a solid lead...

Tags: BDC

February 2009, Auto Dealer Today - WebXclusive

A BHPH Dealer's Wish List

By Ryan Linnehan

Ryan Linnehan - I realize I may be a little older than the demographic of your typical letter-writer, but you know what they say. “Desperate times call for desperate measures.” Even though the economy has been very naughty this year, I can show you all...

Tags: BDC

February 2009, Auto Dealer Today - WebXclusive

Your Annual Review - Are You Ready For 2009

By David Keller, CPA, CFE

David Keller - Take a look at your expenses. Compare your expenses against other 20 group members. Compare them to industry averages. If some are high compared to the industry guides, review the detail of the expense accounts to see if you can reduce...

Tags: BDC

February 2009, Auto Dealer Today - WebXclusive

The Twelve Best BDC Practices Every Department Should Implement

By Glynn Rodean

Glynn Rodean - Over the years, I’ve developed a long list of best BDC practices and here are 12 from which every BDC can benefit...

Tags: BDC

February 2009, Auto Dealer Today - WebXclusive

Be Strong: It is Time to Be a Leader

By Greg Goebel

Greg Goebel - To quote many other folks, I don’t care how much lipstick you put on a pig, it still is a pig.This economy and the industry is what it is. I have been beating the drum for dealers to right-size and maximize fixed operations ...

Tags: BDC

February 2009, Auto Dealer Today - WebXclusive

Walk the Talk in Inventory Management

By Harlene Doane

Harlene Doane - Dealers are talking about inventory management in record numbers, but are they walking that talk? Most know inventory management is the smart thing to do. Having the right inventory in stock has proven to increase gross profits and...

Tags: BDC

January 2009, Auto Dealer Today - WebXclusive

The Three P’s Process + Procedures = Profit

By Michael Finnan

Michael Finnan - Why are the first casualties of the current climate in today’s automotive marketplace time-tested and proven money-making policies and procedures? Why do we allow ourselves to stop doing the things that are designed to ...

Tags: BDC

January 2009, Auto Dealer Today - WebXclusive

Make Training A Daily Business: Practice It For Sustained Results

By Michael Rees

Michael Rees - New ewmployees need to know what you expect from them today, tomorrow, this week, this month, this year. If they don't, it will be impossible for your employees live up to your expectations ...

Tags: BDC

January 2009, Auto Dealer Today - WebXclusive

Change: The Only Constant

By Ryan Linnehan

More than likely, most dealers haven’t been the only game in town for many years now. That increase in competition has spurred many dealers to adapt their business models over time. While having flexible financing options...

Tags: Education

January 2009, Auto Dealer Today - WebXclusive

Army of One - Leverage Your Resources

By Sean V. Bradley

Sean Bradley - There is no army of one. Even in the United States Army, that really isn’t true either. There are no Rambos in the Army. The Green Berets, Delta Force, Airborne Rangers—all these units are elite teams, not stand-alone people ...

Tags: BDC

January 2009, Auto Dealer Today - WebXclusive

Manage Your Inventory for Profits Today

By Mark O'Neil

Mark O'Neil - Take a minute and think about the most successful retailers across the country, operators such as Wal-Mart, Home Depot or Best Buy. One thing they have in common is they don’t leave much to chance; they use technology and tools (not instinct and yellow pads) to help turn their inventory rapidly and boost profits.

Tags: BDC

January 2009, Auto Dealer Today - WebXclusive

How to Spend Your Internet Marketing Budget

By J.D. Rucker

Jim Rucker - Dealerships are starting to realize that they get more bang for their buck through Internet marketing and are cutting into their television and radio budgets and redirecting the funds towards driving Internet leads ...

Tags: BDC

January 2009, Auto Dealer Today - WebXclusive

One Team - One Fight

By Tom Herald

Tom Herald - It takes leadership to formulate a plan, bring it to life, unify the team, and “make it happen.” Strong leaders focus their teams and make them believe victory is within their grasp. Strong leaders cultivate, teach and mentor their troops. Strong leaders also put their fist down from time to time to solidify the unity of the team. Strong leaders develop a culture that expects to win.

January 2009, Auto Dealer Today - WebXclusive

Bring Online Advertising Into Focus with Proper Marketing Support

By Daymond Decker

Daymond Decker - Are you struggling with the transition to digital advertising activities due to lack of time, staff focus or obvious understanding of what to do? ...

Tags: BDC

January 2009, Auto Dealer Today - WebXclusive

Choosing Your Comfort Zone

By Jim Jackson

Jim Jackson - We all want comfort and safety, but sometimes that comfort zone can actually hold us back. If we look at our lives and make a choice to change something, it involves stepping out of our comfort zone. Changing things will take us out of that familiar place, into something new. That’s a little scary. Depending on what it is, that might be very scary.

Tags: BDC

January 2009, Auto Dealer Today - WebXclusive

Ideal Auto Renews Commitment

By Kimberly Long

As anyone who has dealt with special finance knows, getting a special finance department successfully off the ground can be a daunting task. Throughout 2009, Special Finance Insider will follow one dealership’s attempt to do just that.

Tags: BDC

January 2009, Auto Dealer Today - WebXclusive

Online Video - Here it Comes

By Raul Vazquez

Raul Vazquez - Online video is here! ComScore measures more than 11.5 billion online videos that are being viewed each month.

Tags: BDC

January 2009, Auto Dealer Today - WebXclusive

Why Your Advertising Isn't Working

By Brett Boatwright

Brett Boatwright - With today’s troubled economy negatively impacting almost every dealership across the country and the ink on monthly financial statements turning from black to blood-red, why do most owners and upper management teams advertise the same way they did five, 10 and even 25 years ago?

Tags: BDC

January 2009, Auto Dealer Today - WebXclusive

Focus Inc - Dedicated to the Dealer

By ADM

While the credit markets have tightened, it’s important that consumers realize they can still get approved for an auto loan. Focus can help improve consumer confidence with its direct-response marketing campaigns broadcast via infomercials.

Tags: BDC

January 2009, Auto Dealer Today - WebXclusive

Here's to Fresh Beginnings

By Marla Belson

Marla Belson - Clank—I could hear the heavy sound of the dead bolt locking the front door after the last customer of 2008 drove off. As the handful of us sat watching the taillights cross the curb, I thought the showroom windows would fog up from everyone letting out a collective sigh of relief.

Tags: BDC

December 2008, Auto Dealer Today - WebXclusive

Boost Aftermarket Product Sales and Efficiency in Three Easy Steps

By Mark O'Neil

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.

Tags: BDC

December 2008, Auto Dealer Today - WebXclusive

Curry Auto Center Expands its Lineup

By John Carroll

John Carroll - “When I was approached to consider purchasing the Chevrolet franchise to add to my existing GM lineup,” said Curry, “I was excited about the opportunity because it was just that, an opportunity. By adding Chevrolet, our dealership became a ...

Tags: BDC

December 2008, Auto Dealer Today - WebXclusive

Don’t Panic: Be Smart

By David Wilson

David Wilson - I started in the retail automotive industry when interest rates were 22 percent, customers were sparse and everyone was saying how bad it was. The dealer I started with had just hocked his home to invest in the deal and we lost over $200,000 the ...

Tags: BDC

December 2008, Auto Dealer Today - WebXclusive

Compliance Complacency: How Much Compliance is Enough?

By Aaron Proctor

Aaron Proctor - When I speak to dealers for the first time about the Privacy Act or Red Flags compliance, I begin with three questions...

Tags: BDC

December 2008, Auto Dealer Today - WebXclusive

Mountain View Auto Takes on the Virtual Frontier

By Kimberly Long

Kimberly Long - Mountain View has been steadily working toward a stronger online presence for several years, striving to mold efforts into what Erwin described as “a full-fledged, go-after-it, no-holds-barred concept of e-commerce.” That concept has developed into a ...

Tags: BDC

December 2008, Auto Dealer Today - WebXclusive

An Exercise in Planning and Patience: Purchasing a Franchise is a Drawn Out Affair as Aztec Chevrolet Discovers

By Kimberly Long

Kimberly Long - Buying a dealership, even a small one, can be a complicated experience, even for seasoned business owners. Just ask Luis Aliniz, dealer principal of Aztec Chevrolet Pontiac Buick in Beeville, Texas.

Tags: BDC

December 2008, Auto Dealer Today - WebXclusive

Business Development Centers: The Most Accountable, Measurable Department

By Glynn Rodean

Glynn Rodean - This position is generally one of an order-taker and is often responsible for fielding complaints. Probably, the CSR you are most familiar with is employed by your cell phone company...

Tags: BDC

December 2008, Auto Dealer Today - WebXclusive

Buying or Selling a Dealership: When to Call in the Experts

By John Carroll

John Carroll - For anyone trying to sell a dealership, nothing beats a combination of financial health and clear potential for new growth. But with the economy in a swoon, demonstrating either of those traits these days is no easy task.

Tags: BDC

December 2008, Auto Dealer Today - WebXclusive

Is Special Finance Dead? Don’t Confuse Near-Prime Cutbacks with Special Finance

By Greg Goebel

Greg Goebel - Through the first nine months of 2008, the flow of money through securitization has amounted to less than $1.5 billion; through the first five months of 2007, over $12 billion flowed into subprime finance.

Tags: BDC

December 2008, Auto Dealer Today - WebXclusive

Pigs Get Fat, Hogs Get Slaughtered

By Thomas B. Hudson, Esq.

Thomas B. Hudson, Esq. - One surefire way to make sure a court won’t enforce your arbitration agreement is to ask it to do more than get you in front of an arbitrator. I can’t tell you the number of arbitration agreements I’ve seen that indicate...

Tags: BDC

December 2008, Auto Dealer Today - WebXclusive

Five Things You Should Know When Selling on eBay Motors

By Rob Chesney

Rob Chesney - ... dealers are discovering that online used vehicle sales are a direct and efficient way to increase revenue that has been battered by a decrease in new vehicle sales and foot traffic ...

Tags: BDC

December 2008, Auto Dealer Today - WebXclusive

Choose Success: Sales Are As Strong As You Make Them

By Michael Rees

Michael Rees - Are you and your team using the fact that so many people are saying business is bad to tell yourselves: “It’s okay that we’re not doing any better. We can’t help it; it’s just the economy”? ...

Tags: BDC

December 2008, Auto Dealer Today - WebXclusive

The Advantages of Flash: The Rules Have Changed Over the Years

By Jason Ezell

Jason Ezell - Now that dial-up users are considered ancient and search engines can read Flash content, both major objections have been eliminated ...

Tags: BDC

December 2008, Auto Dealer Today - WebXclusive

Important Things You Must Consider If Buying or Selling A Franchise Dealership

By David Keller, CPA, CFE

David Keller - One of the things you should do before signing the buy-sell is consider what floorplan source you will use for financing the vehicle inventories...

Tags: BDC

December 2008, Auto Dealer Today - WebXclusive

For Coral Springs Auto Mall, Rough Winds are Just the Beginning

By Jennifer Rincon

Three years ago, Coral Springs Auto Mall lost dozens of valuable units – not to a robbery or economic downfall, but to a group of metal light poles. During Hurricane Wilma in 2005, violent winds caused a number of 25-foot-tall poles to snap from their foundations, toppling sideways and crushing eight or nine cars at a time, every time.

Tags: BDC

December 2008, Auto Dealer Today - WebXclusive

Youtube Surpasses Yahoo in Number of Searches

By Sean V. Bradley

Sean Bradley - As we know, video—specifically, video search—is powerful, but did you know it was this powerful? Recent statistics from comScore data...

Tags: BDC

December 2008, Auto Dealer Today - WebXclusive

Enfotrace's GPS Device Offers a Technical Edge

By ADM

Technology can improve a dealer’s business in many ways. One technological tool that has been helping improve collections for some time is the starter interrupt device.

Tags: BDC

December 2008, Auto Dealer Today - WebXclusive

Maximize Every Lead

By Michael Fishman

Michael Fishman - In a time of economic turbulence, generating showroom traffic is more critical than ever

Tags: BDC

December 2008, Auto Dealer Today - WebXclusive

Four M's of Marketing Techniques

By Raul Vazquez

Raul Vazquez - I’ve often addressed how to maximize your ad dollars, how to get the most from your customer database and how to differentiate yourself from your competition in your customer's mind. All of these issues have a direct impact on your sales...

Tags: BDC

November 2008, Auto Dealer Today - WebXclusive

If You Can't Track It...

By Harlene Doane

Harlene Doane - The current trend in advertising isn’t about where you spend your ad dollars as much as it is about how you spend your money. According to NCM Twenty Group data, as of June 2008, advertising expenditures are not rising.

Tags: BDC

November 2008, Auto Dealer Today - WebXclusive

Exceeding Expectations: A Message for Frazzled Finance Managers

By Becky Chernek

Becky Chernek - To often, manager assume they know the reasons customers reject particular products and fail to learn the rationale behind customers' decisions.

Tags: BDC

November 2008, Auto Dealer Today - WebXclusive

What Every BDC Needs: Skills, Not Scripts

By Glynn Rodean

Glynn Rodean - If you train on just scripts, you're putting your money (and possibly your ROI) on only seven percent of communication.

Tags: BDC

November 2008, Auto Dealer Today - WebXclusive

Improve your Collections Instantly

By Ben Donnarumma

Ben Donnarumma - By paying close attention to what is going on, especially when it comes to collections, you can minimize the mistakes being made inside and outside of your company and increase the money you collect...

Tags: BDC

November 2008, Auto Dealer Today - WebXclusive

Top 10 Sales Killers in Special Finance

By Tom Herald

Tom Herald - In special finance, the customer's buying power needs to be determined effectively and discretely long before ever presenting a vehicle.

Tags: BDC

November 2008, Auto Dealer Today - WebXclusive

Maryland Dealer Improves Leads and CRM with New Web Site

By Daymond Decker

Daymond Decker - As Web sites became popular in the past, it was important to simply “be” on the Web. But today’s Internet user is far more savvy than 10 years ago, and last year it became clear to ...

Tags: BDC

November 2008, Auto Dealer Today - WebXclusive

Lessons Learned From the Election

By Joe Turner

Joe Turner - I was reading an article recently about some of the differences in the ways the two campaigns operated during this past election and some things really jumped out at me...

Tags: BDC

November 2008, Auto Dealer Today - WebXclusive

Stop Satisfying Customers

By Paul Rushing

Paul Rushing - Are you placing a lot of emphasis on satisfying customers? Is the only time you hear from your customers when they have a problem after they buy from you? Do you have someone on your staff whose job it is to handle customer complaints and to resolve issues?

Tags: BDC

November 2008, Auto Dealer Today - WebXclusive

The Greatest Investment in the World

By Ryan Linnehan

Ryan Linnehan - Most people know the Golden Rule ... But lenders have a different “Golden Rule”: He who has the gold makes the rules! Unfortunately, they are afraid to lend it—even to prime customers!

Tags: BDC

November 2008, Auto Dealer Today - WebXclusive

Learning from Rock Stars

By Jim Jackson

Jim Jackson - Prior to the conference, I had been asked to speak at the conference before a panel representing four of the most well-known professional speaking bureaus. I arrived at the auditorium for my presentation—it was set up just like

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