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October 2008, Auto Dealer Today - WebXclusive

Technology Could Cost You: Three Areas BHPH Dealers Should Review

By Brent Carmichael

Brent Carmichael - Technology touches many facets of the buy here pay here industry. Video surveillance, starter interrupt/GPS and software are the most popular areas for technological discussion in BHPH. These three areas seem to be ...

Tags: BDC

October 2008, Auto Dealer Today - WebXclusive

Three Hot Technology Questions: It’s Not Always Black and White

By Harlene Doane

Harlene Doane - For some technology issues, the answers are black and white. There is a right way and a wrong way to approach them. For other issues, there can be a great divide in opinions—even among those who work in the industry. This month, three questions asked by dealers warranted a closer look ...

Tags: BDC

October 2008, Auto Dealer Today - WebXclusive

Special Finance Benchmarks Drop as Finance Companies Tighten Programs

By Greg Goebel

Greg Goebel - 2008 has proven to be a tumultuous year in the special finance industry ... Finance companies as a whole have tightened underwriting guidelines, reduced advances, increased fees and raised interest rates.

Tags: BDC

October 2008, Auto Dealer Today - WebXclusive

The People Factor - Managing By the Numbers

By Harlene Doane

Harlene Doane - Dealers have started looking closely at employee staffing and productivity in addition to overall dealership gross profits. The current all-dealer (domestic, import and highline) Benchmark departmental gross profit per employee is ...

Tags: BDC

October 2008, Auto Dealer Today - WebXclusive

Reasons for BDC Expansion: Evaluating Core Indicators

By Glynn Rodean

Glynn Rodean - A business development center (BDC) is a dynamic entity that needs to be able to expand and contract. When it comes to growth, there are different reasons to expand and several methods of expansion.

Tags: BDC

October 2008, Auto Dealer Today - WebXclusive

Tough Times Never Last

By Sean V. Bradley

Sean Bradley - Understand that I teach and preach a process that holds excellence in performance as the end goal, and it personally frustrates me when I see dealers, managers, Internet directors and sales consultants making excuses for mediocre results. I hear all kinds of excuses such as ...

Tags: BDC

October 2008, Auto Dealer Today - WebXclusive

Listen to Your Web Site

By Jason Ezell

Jason Ezell - ... 90 percent of everyone out there looking to buy a car goes online at some point to research that purchase, the Internet can give us the most accurate, current and specific facts about shopper trends ...

Tags: BDC

October 2008, Auto Dealer Today - WebXclusive

What Happens When Your Customer Is Uninsured?

By Thomas B. Hudson, Esq.

Thomas B. Hudson, Esq. - Sometimes it seems like there’s just no end to the ways a dealer can get into a legal jam. That’s really not surprising ... Here’s an example of a dealer’s problems arising from the sale, or non-sale, of credit insurance...

Tags: BDC

October 2008, Auto Dealer Today - WebXclusive

The Fairy Tale of the Sleeping Buy Here Pay Here Dealer

By Charley Pompey

Charley Pompey - Once upon a time, there was a BHPH dealer who fell asleep in his office under the spell of a wicked customer. When this buy here pay here dealer fell asleep, he began to dream that he could sell his cars for anything he wanted to. He and his employees knew the BHPH business and did not need to change the way they did things or educate themselves on the business.

Tags: BDC

October 2008, Auto Dealer Today - WebXclusive

Why CRM Systems Fail: The Problem Isn't What You Think

By Tom Herald

Tom Herald - One of the most common reasons cited for the high failure rate of CRM Systems is poor data quality. It is also one of the easiest problems to avoid.

Tags: BDC

October 2008, Auto Dealer Today - WebXclusive

Tasca Auto Group Writes the Book on e-Satisfaction

By Daymond Decker

Daymond Decker - At the age of 27, Bob Tasca Sr. opened his first Ford dealership with a completely new mindset: one-price selling and unparalleled customer service, both of which were unheard-of ...

Tags: BDC

October 2008, Auto Dealer Today - WebXclusive

Signal-to-Noise Ratios: Online Employment Information Fights For Attention

By Justin Spath

Justin Spath - This ... is a fundamental problem with employee relations practices at many automotive dealerships. We lose employees and have trouble finding new ones because ...

Tags: BDC

October 2008, Auto Dealer Today - WebXclusive

Understanding Risk Retention Groups

By Kevin Day

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 ...

Tags: BDC

October 2008, Auto Dealer Today - WebXclusive

Truck Month Is Coming: The Glut of Inventory

By Scott Dreisbach

Scott Dreisbach - Every single successful retailer of any product across this great country of ours has at least one thing in common. They all desire to gain market share on their competitor. They all want to sell more ...

Tags: BDC

October 2008, Auto Dealer Today - WebXclusive

Technology: Partner or Distraction

By Jim Jackson

Jim Jackson - ... there are many new technologies in the car business that can and will change your performance. Here are some basic guidelines for using technology that, if applied, will improve your potential ROI.

Tags: BDC

October 2008, Auto Dealer Today - WebXclusive

It Is Not Too Late: Commit to Online Sales Now

By Rob Chesney

Rob Chesney - When managers consider their competition, they must ask themselves how they can compete to stay ahead or even stay in business. Just as in the real world, customer service is ...

Tags: BDC

October 2008, Auto Dealer Today - WebXclusive

Technology in 2008

By David Keller, CPA, CFE

David Keller - Well, it is 2008. Yes, you probably know that by now. But are you really living in the year 2008? Is your business? The only way to know is to ask a few simple questions...

Tags: BDC

October 2008, Auto Dealer Today - WebXclusive

Hope for the Best, Prepare for the Worst

By Ryan Linnehan

To be honest, it can be a sobering meeting, and one to which no one will probably look forward. As a matter of fact, the easy thing to do is just put off having the discussion, cross your fingers and hope such disastrous events never occur...

Tags: BDC

October 2008, Auto Dealer Today - WebXclusive

Driversselect Marketing Obsession

By Harlene Doane

Harlene Doane - In walks a tiny blonde in a bright orange shirt carrying a bright orange, oversized handbag. The excitement and passion for what she does is evident from the minute she opens her mouth. She proudly states that she is in the customer delight business.

Tags: BDC

October 2008, Auto Dealer Today - WebXclusive

Voisys - Growth is the Name of the Game

By ADM

“I think we’re just feeling the effects of the mortgage industry and the money will come back pretty soon,”

Tags: BDC

October 2008, Auto Dealer Today - WebXclusive

SMART Goal Setting

By Marla Belson

Marla Belson - Having absorbed all of this information, I now begin the task of building a new multi-franchise special finance department. This looms as an overwhelming project and a huge responsibility. In anticipation of this new project, I am drawing from the experience of and knowledge shared by my peers.

Tags: BDC

October 2008, Auto Dealer Today - WebXclusive

Internet Leads Offer Lowest Ad Cost Per Sale

By Dan Henderson

Rumors abound about what our illustrious vice president was really doing when he “oops” shot Harry Whittington, the high profile lawyer, while hunting. Well, I’m certain of the fact it was an accident, but the point was he wasn’t looking at what he was shooting at

Tags: BDC

October 2008, Auto Dealer Today - WebXclusive

Return on Investment

By Sean V. Bradley

Sean Bradley - We hear the term ROI all the time. It’s one of those overused “buzzwords.” Every vendor selling any product promises dealers a great return on investment. To me, that means getting the most back from your efforts.

Tags: BDC

September 2008, Auto Dealer Today - WebXclusive

Fast Funding Still Expected in Special Finance: Eights Simple Steps Will Keep Cash Flowing Even in More Stringent Times

By Greg Goebel

Greg Goebel - Fast funding must be the culture of the dealership. For some dealers, that means a significant change of policy...

Tags: BDC

September 2008, Auto Dealer Today - WebXclusive

Building Blocks to Compliance: Central Valley Autos All-Around Success in F&I

By Jennifer Rincon

Jennifer Rincon - Central Valley Automotive has a way of good-naturedly rushing the customer into handshakes with most of their staff. “Our entire sales staff—at all four stores—is very quick to introduce the customer to the manager ...

Tags: BDC

September 2008, Auto Dealer Today - WebXclusive

Compliance Headaches: Adverse Action and the “Red Flags” Rule

By Kimberly Long

Kimberly Long - Compliance in general is an ongoing headache for dealers. Adverse action, in particular, is something many have been struggling to get a handle on for quite some time ... Compounding their worries, dealers will soon have to contend with...

Tags: BDC

September 2008, Auto Dealer Today - WebXclusive

Don’t Be Timid: Lack of Liquidity Paired With Fear and Ego Becomes a Lethal Mix

By Greg Goebel

Greg Goebel - It is a tough, tough market for many auto retailers. I warned of this last October saying the recession was here, and it is. I could care less about a few paltry economic growth indicators.

Tags: BDC

September 2008, Auto Dealer Today - WebXclusive

Employee Insurance and Benefit Packages: Current Trends and Ways to Save

By Jennifer Murphy Bloodworth

Jennifer Murphy - With such high costs to dealers, it’s understandable that some dealers are evaluating their plans, weighing their options and even modifying coverages in the current economic climate.

Tags: BDC

September 2008, Auto Dealer Today - WebXclusive

Get Better Gas Mileage with SEO

By J.D. Rucker

Jim Rucker - Gas mileage is a hot topic to automotive consumers. Search engine optimization (SEO) is a hot topic to automotive dealers. With today’s economic conditions, getting the most mileage ...

Tags: BDC

September 2008, Auto Dealer Today - WebXclusive

Building Trust, Building Sales and Managing Your Online Reputation

By Rob Chesney

Rob Chesney - There are many ways in which a dealer can begin to build buyer trust online, and it all starts with the listing. When listing a used vehicle online, it is important to ...

Tags: BDC

September 2008, Auto Dealer Today - WebXclusive

Making the Most of Online Employment Ads

By Justin Spath

Justin Spath - The function of an online employment ad is really no different than one that appears in print. The key thing to remember is that due to the form of the online employment ad, ... you are not constrained by the print format. There are no ...

Tags: BDC

September 2008, Auto Dealer Today - WebXclusive

Taking Tips from the Golf Pros: Explain Why - not Just What - in Your Marketing

By Rob Anderson

Rob Anderson - “I want a low interest rate, no money down and a $75,000 Escalade even thought my credit has been shot since the Reagan Administration. I also want a $199 monthly payment on that Escalade.” ... What is important is how you respond to the request.

Tags: BDC

September 2008, Auto Dealer Today - WebXclusive

Drive Business, Drive Profits with Digital Advertising

By Daymond Decker

Daymond Decker - More consumers are turning to Internet search engines as a primary tool for filtering both vehicles and dealerships ...

Tags: BDC

September 2008, Auto Dealer Today - WebXclusive

Uncovering Eight Common Myths About Web Sites

By Tom Herald

Tom Herald - Your Web site is the flagship of your business marketing plan, and it’s open 24/7, whenever a prospective customer wants to learn about you, your dealership, your inventory and your financing. By simply...

Tags: BDC

September 2008, Auto Dealer Today - WebXclusive

Strengthen Your Team

By Jim Jackson

Jim Jackson - T.E.A.M. has six key components. No one component is more important than another, but if you don’t have them all in place, you’ll be out of balance ... The six components are:

Tags: BDC

September 2008, Auto Dealer Today - WebXclusive

Cash Flow: An Urgent Matter

By David Keller, CPA, CFE

Dave Keller - If you are a typical dealer, you probably check your cash balance daily. Some dealers run their business by their checkbook balance, while others use the actual bank account balance and release checks accordingly. Which is better?...

Tags: BDC

September 2008, Auto Dealer Today - WebXclusive

One Extraordinary Act Per Day

By Ryan Linnehan

Ryan Linnehan - There are many ways to create value, and we have talked in the past about some ideas that could be included in a “Value Package” that would be presented to our customers in an attempt to...

Tags: BDC

September 2008, Auto Dealer Today - WebXclusive

Just Because You’re Paranoid Doesn’t Mean They Aren’t Following You

By Thomas B. Hudson, Esq.

Thomas B. Hudson, Esq - If you are a dealer, you may take some comfort from the fact that your customers seldom get upset enough to haul you into court. That comfort disappears, though, when you find out that your customers are being encouraged to sue you...

Tags: BDC

September 2008, Auto Dealer Today - WebXclusive

Best Practices for Developing Your Red Flags Rule Program

By Mark O'Neil

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.

Tags: BDC

September 2008, Auto Dealer Today - WebXclusive

The Lack of Consistent Accountability

By Harlene Doane

Harlene Doane - Dealers, frustrated with the results in the BDC, are trying to solve what they believe is a management problem. However, the root of the problem may be much deeper. The problem lies in ...

Tags: BDC

September 2008, Auto Dealer Today - WebXclusive

It’s Enough to Make a Grown Man Cry: The Fair and Accurate Credit Transaction Act

By Thomas B. Hudson, Esq.

Thomas B. Hudson, Esq. - The truncation and expiration date parts of the FACTA legislation turned out to be the worst sort of "gotcha" legislation...

Tags: BDC

September 2008, Auto Dealer Today - WebXclusive

Business Development Centers Can Maximize Service Appointments

By Don Reed

Don Reed - One very effective way to correct this is to send all incoming service calls to a business development center (BDC). Properly trained BDC personnel can provide a multitude of services that will increase owner retention...

Tags: BDC

September 2008, Auto Dealer Today - WebXclusive

Building a Web Site That Lasts a Lifetime

By Rob Mudd

Rob Mudd - A point of caution: don’t be misled by the word “interactive.” If that interactivity is not shored-up by good retail messaging, all you will have at the end of the day are a lot of useless “cookie” crumbles. It’s not about the toys, but the ...

Tags: BDC

September 2008, Auto Dealer Today - WebXclusive

New Trends in Ad Spends: Make the Most of Your Money

By Jason Ezell

Jason Ezell - I’ll bet that even in these slower times, more leads come through your Web site than through your front door. I’ll also wager that there are, in most cases, far more people visiting or “driving by” your Web site than there are...

Tags: BDC

August 2008, Auto Dealer Today - WebXclusive

Million-Dollar Attitude

By Jim Jackson

Jim Jackson - My dictionary states a “personal view of something, an opinion or general feeling about something.” It does not state that it is good or bad, just an opinion about something. So, when and how does it become positive or negative?

Tags: BDC

August 2008, Auto Dealer Today - WebXclusive

A Tale of Two Economies: How Smart Marketing Can Help your Dealership Thrive, Not Just Survive, During Difficult Times

By Sarah Mooneyhan

Sarah Mooneyhan - Take a closer look at where you are spending your marketing dollars. Review your marketing key performance indicators for each lead source, such as lead-to-sales conversion rate and cost per sale ...

Tags: BDC

August 2008, Auto Dealer Today - WebXclusive

Downeast Toyota’s Interactive Web Site and Rapid Response Time Reels in Customers

By Daymond Decker

Daymond Decker - Since their new site went live, there have been 65,355 unique visitors and 4,351 total sales and service leads. About 40 percent of Web site visitors spend one to five minutes on the site ...

Tags: BDC

August 2008, Auto Dealer Today - WebXclusive

Taking the Franchise Route for BHPH: Gary Duncan’s Two J.D. Byrider Stores

By John Carroll

John Carroll - “With the franchise, you get a great computer system, monitoring of all facets of buy here pay here,” said Duncan. “You get a consultant that comes in and visits periodically.

Tags: BDC

August 2008, Auto Dealer Today - WebXclusive

Attracting, Training and Hiring for a BDC or Call Center: Industry Experts Weigh In

By Jennifer Murphy Bloodworth

Jennifer Murphy - The success of a BDC or call center is heavily dependent on having well-trained employees. The selection process of hiring the right employees coupled with a motivating compensation plan and intensive and ongoing training will yield the best results.

Tags: BDC

August 2008, Auto Dealer Today - WebXclusive

The Right BDC Option: Choosing the One that Fits Your Dealership

By Justin Spath

Justin Spath - The biggest advantage to an in-house BDC is that you have complete control over it. You decide who is hired or fired, how it is managed, what the requirements will be, and how to improve on it or change it to meet your business needs.

Tags: BDC

Blog

On-the-Point

Jim Ziegler
Fasten Those Seatbelts

By Jim Ziegler
With a major slowdown imminent, Da Man says it’s time to ditch those new-age theories and get back to the basics.

Objects in the Rearview Mirror

By Jim Ziegler
The past is right behind us and the future is coming fast. The Alpha Dawg plots a course for your store’s success and shares advice for Elon Musk, Johan de Nysschen, and pre-owned managers.

The Big Talent Drain

By Jim Ziegler

A Faster Horse

By Jim Ziegler

Opening Observations

Over the Curb