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January 2008, Auto Dealer Today - WebXclusive

Protecting Your Money The Low-Tech Way

By Jeff Smelley

Jeff Smelley - In what’s transitioning to a cashless banking environment, you must carefully inspect credit card authorizations, electronic funds transfers and payment authorizations.

Tags: BDC

January 2008, Auto Dealer Today - WebXclusive

Hitting The Bulls-Eye: Effectively Targeting Your Market

By Rob Anderson

Rob Anderson - Bull’s-eye marketing is about locating your best prospects ... You can start mapping by looking at your key marketing and support materials, then comparing them to those of your closest competitors.

Tags: BDC

January 2008, Auto Dealer Today - WebXclusive

The CSI Pyramid Part II: Retention

By Mauricio Espinosa

Mauricio Espinosa - At many businesses, we found first-time customers usually give good-to-excellent ranking scores. However, as time and experiences continue, the results deteriorate.

Tags: BDC

January 2008, Auto Dealer Today - WebXclusive

Full-Spectrum Finance: Providing What the Customer Needs

By Tom Herald

Tom Herald - In order to direct a customer away from specific vehicles, bypass price, ask for significant down payments and still structure profitable deals, you must have a program to sell. In special finance, this program is ...

Tags: BDC

January 2008, Auto Dealer Today - WebXclusive

Florida Dealer Weathers The Elements: Pompano Honda Sets Records

By Daymond Decker

Daymond Decker - According to statistics provided by Honda, 80 percent of typical Honda buyers first turn to the Internet to conduct online research...

Tags: BDC

January 2008, Auto Dealer Today - WebXclusive

Sales Skyrocket With Hispanic Market Focus: R&R Auto Sales Thrives In Orland, Calif.

By John Carroll

John Carroll - It's all part of reaching out, letting the Hispanic community know, in a myriad of small and large ways, they'll be welcome when it comes time to buy a vehicle.

Tags: BDC

January 2008, Auto Dealer Today - WebXclusive

Advertising: Spending Those Dollars Weekly

By Kris Wright

Kris Wright - Dealers often spend advertising dollars without tracking the “true” productivity of each medium. Since the market is more competitive than ever, we have to compete to have the most effective advertising mediums as well.

Tags: BDC

January 2008, Auto Dealer Today - WebXclusive

2008 Special Finance Hall of Fame Awards to be Presented at the 2008 Special Finance Convention

By Greg Goebel

2008 SFC

Tags: BDC

January 2008, Auto Dealer Today - WebXclusive

Run Your Own Marathon: Eleven Steps To Reaching The Finish Line

By Greg Goebel

Greg Goebel - Every journey begins with a first step. I believe that first step is being Inspired to Set Your Goal. You have to be inspired to achieve something that you have never accomplished.

January 2008, Auto Dealer Today - WebXclusive

NADA's Razzle Dazzle Convention: Profitability Heads to the Bay

By John Carroll

John Carroll - ... while hosting dozens of workshops each day over the 4-day event to better prepare dealers for what’s shaping up as one of the most challenging years the auto retail business has seen in decades.

Tags: BDC

December 2007, Auto Dealer Today - WebXclusive

The Waiting Game In F&I: How Punte Hills Toyota Keeps The Customer Engaged

By Jennifer Rincon

Jennifer Rincon - However, most customers are not impressed with legal savvy. They simply want to buy a car and get on with their day. This leads the F&I team back to the first question: time. “Time is absolutely of essence to us,” said Hakes.

Tags: BDC

December 2007, Auto Dealer Today - WebXclusive

Automotive Wage Compliance In The Dealership: Minimum Wage Law Does Apply

By Justin Spath

Justin Spath - The FLSA is the federal law that details standards for the basic minimum wage and overtime pay. It covers employers who have ...

Tags: BDC

December 2007, Auto Dealer Today - WebXclusive

How To Play By The Rules On eBay Motors

By Rob Chesney

Rob Chesney - To build a solid reputation online, begin by providing every detail you have available regarding vehicles you have listed. For example, take pictures of a vehicle from all angles, including any dents, scratches or other imperfections...

Tags: BDC

December 2007, Auto Dealer Today - WebXclusive

A BHPH Christmas Carol

By Ryan Linnehan

Ryan Linnehan - Ben had never been a pleasant man, but since Jacob’s passing, he had been even more of a thorn in the side of Bob Cratchit, the collections manager...

Tags: BDC

December 2007, Auto Dealer Today - WebXclusive

Sales Professional Recruiting: The Selection Process

By Michael Rees

Michael Rees - Many dealers like to hire people on the spot (especially salespeople) and let them sink or swim; this is time consuming and expensive. Dealers have to go through the hiring process ...

Tags: BDC

December 2007, Auto Dealer Today - WebXclusive

The Glue That Holds It All Together, Special Finance Systems: Part 1

By Greg Goebel

Greg Goebel - I divide “Systems” into four areas that need continual attention, and where loss of focus will quickly cause loss of sales or profits. Those four areas include ...

Tags: BDC

December 2007, Auto Dealer Today - WebXclusive

Subletting: The Sequal, Choosing What To Outsource

By Ryan Linnehan

Ryan Linnehan - Focus on the areas your are best at in your operation and leave the rest to trusted experts, even if it means tapping resources outside your company...

Tags: BDC

December 2007, Auto Dealer Today - WebXclusive

Energize Your Dealership And Your Employees: Six Strategic Steps To Take Today

By David Keller, CPA, CFE

David Keller - Walk into your dealership tomorrow and begin to look at it differently. Or better yet, why wait until tomorrow? Walk out the front door right now, get into your vehicle and drive around the block...

Tags: BDC

December 2007, Auto Dealer Today - WebXclusive

Evaluate Your Service Department

By Don Reed

Don Reed - It doesn't matter what the price of gasoline is or what the interest rates are because there will always be opportunities for improvement in dealing with the retail service customer...

Tags: BDC

December 2007, Auto Dealer Today - WebXclusive

Interstate + Internet = Trouble

By Thomas B. Hudson, Esq.

Thomas B. Hudson, Esq. - When the dealer and the buyer are in different states, a lot of different things are happening. The business models we have seen range from the safest to the more dangerous, from a legal standpoint...

Tags: BDC

December 2007, Auto Dealer Today - WebXclusive

Consider Every Online Offer Or Interaction A Sales Opportunity

By Rob Chesney

Rob Chesney - Every inquiry on eBay Motors is a potential buyer and therefore a relationship that needs time and care to cultivate. The goal is to build that question or offer, no matter how insulting or low, into an understanding and ultimately a...

Tags: BDC

December 2007, Auto Dealer Today - WebXclusive

Leveling The Playing Field: What F&I Can Do For The Wise Dealer

By Greg Goebel

Greg Goebel - Dealers that are seeing their net profits disappear, simply cannot afford to have underperforming finance and insurance departments. If a store is selling 60 to 70 units per month, struggling to break even and averaging less than ...

Tags: BDC

December 2007, Auto Dealer Today - WebXclusive

Know The Five Steps Online Shoppers Take

By Brian Page

Brian Page - Reaching out to the car buyer at each stage exponentially increases the chance your dealership’s name will be remembered, and ultimately contacted by the consumer when they are ready to buy...

Tags: BDC

December 2007, Auto Dealer Today - WebXclusive

Kentucky Toyota Dealer: Cashing-In On eCRM

By Daymond Decker

Daymond Decker - With an effective digital marketing strategy, complete with the right technology, tools and extensive training, McDaniel and the BDC department at Kerry Toyota are giving the competition a run for their money...

Tags: BDC

December 2007, Auto Dealer Today - WebXclusive

Strategies And Tips For Dealing With Difficult Employees

By Mark Benjamin

Mark Benjamin - Management is wise to quickly address a difficult employee, experts say, since such negativism is contagious and can quickly impact the entire office staff.

Tags: BDC

December 2007, Auto Dealer Today - WebXclusive

The Backup Server

By Jeff Smelley

Jeff Smelley - The first solution for a backup server is to buy a system exactly like your production server, providing a simple and quick solution in the event your production server experiences problems.

Tags: BDC

December 2007, Auto Dealer Today - WebXclusive

Who Teaches Compliance To Our Special Finance Team

By Greg Goebel

Greg Goebel - It can be overwhelming when it comes to trying to comply with the dizzying number of laws and regulations that auto dealers are faced with, which often which can be contradictory.

Tags: BDC

December 2007, Auto Dealer Today - WebXclusive

Why It Pays To Cheat: Sage Advice From Waikem Auto Group's Special Finance Department

By Jennifer Rincon

Jennifer Rincon - For two-and-a-half years, the Waikem team copied all the SF knowledge they could find. They listened to Greg Goebel, who advised them that only 20 percent of dealers in special finance ever reach their full potential...

Tags: BDC

December 2007, Auto Dealer Today - WebXclusive

Why Use An Automotive Legal Specialist

By Ron Smith

Ron Smith - Firms that specialize in the auto industry often have extensive access to networks of dealer attorneys throughout the United States, who regularly exchange information about issues and cases facing their clients...

Tags: BDC

December 2007, Auto Dealer Today - WebXclusive

Start Your Tax Planning Early

By David Keller, CPA, CFE

David Keller - Can you believe its almost the end of the year? Start your end-of-the-year tax planning now. Don’t wait until it is too late to make changes to your operations, setup up a new company or hire the extra person you have been talking about...

Tags: BDC

December 2007, Auto Dealer Today - WebXclusive

Just Ask! Then Listen To Better Understand Your Customers' Needs

By Tom Herald

Tom Herald - An effective salesperson must strictly adhere to the Cardinal Rule of Special Finance: Always conduct a thorough needs analysis. It is amazing how much information a customer will provide if we ...

Tags: BDC

December 2007, Auto Dealer Today - WebXclusive

The 3 C's For Technicians

By Don Reed

Don Reed - First, I want you to determine the condition of your technicians. To do this, you should start by asking your service director/manager to conduct an assessment of their individual skill levels. This will answer two questions...

Tags: BDC

December 2007, Auto Dealer Today - WebXclusive

Positioning: Raise Your Branding Standard

By Rob Anderson

Rob Anderson - Positioning is the process by which marketers try to create an image or identity in the minds of the target market for the dealership, brand or organization. It is the “relative competitive comparison” a dealership occupies in a ...

Tags: BDC

December 2007, Auto Dealer Today - WebXclusive

The CSI Pyramid

By Mauricio Espinosa

Mauricio Espinosa - What is of most interest is that Hispanics typically rank companies very high when responding to communication (such as a telephone call) that is conducted correctly.

Tags: BDC

December 2007, Auto Dealer Today - WebXclusive

The Sublet Debate: That is The Question

By Ryan Linnehan

Ryan Linnehan - There are a lot of related areas to the BHPH business that we could be involved in, and if we had unlimited time and resources, we probably could make more money by doing so...

Tags: BDC

December 2007, Auto Dealer Today - WebXclusive

Managing By The Numbers While Navigating Expansion

By Jennifer Murphy Bloodworth

Jennifer Murphy - Ghazal focuses heavily on each store’s numbers. He receives various reports from each store daily, weekly and monthly and analyzes them to determine how each store is performing, see if any of them need improvement and monitor his...

Tags: BDC

December 2007, Auto Dealer Today - WebXclusive

How To Respond To Internet Inquiries: Trainers and Directors Disclose Proper Techniques

By John Carroll

John Carroll - Trying to come up with a step-by-step process for Internet sales can be tricky. Some practices may work better than others in your own operation, and picking the best approach for your dealership can make a big difference at the end of...

Tags: BDC

December 2007, Auto Dealer Today - WebXclusive

Share the Season: Tis Time To Give Back

By Greg Goebel

Greg Goebel - There are a lot of people out there that dealers don’t touch directly or indirectly. Many people don’t play on the Little League teams or go to the philharmonic.

Tags: BDC

November 2007, Auto Dealer Today - WebXclusive

A Smooth Internet Operation: Peruzzi Toyota Scores with the Right Process in Place

By Jennifer Murphy Bloodworth

Jennifer Murphy - Bill Finocchiaro, president of Peruzzi Toyota in Hatfield, Pa., has been experiencing online success since he expanded his Internet department and adopted new processes for the department. “I knew there was more out there;

Tags: BDC

November 2007, Auto Dealer Today - WebXclusive

Are Performance-Based Sales Events For You?

By Tim Bailey

Tim Bailey - The buying atmosphere created at these events ... will increase the front and back grosses significantly

Tags: inventory

November 2007, Auto Dealer Today - WebXclusive

Punitive Damages: How Much is Too Much?

By Thomas B. Hudson, Esq.

Thomas B. Hudson, Esq. - The Texas Supreme Court found that Gullo Motors’ fraudulent actions merited exemplary (punitive) damages, but that the $125,000 remittitur exceeded the constitutional limits on exemplary damages...

Tags: BDC

November 2007, Auto Dealer Today - WebXclusive

Eliminating The Box Sale

By Becky Chernek

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

Tags: BDC

November 2007, Auto Dealer Today - WebXclusive

Proper Recruiting: Use the Steps To A Sale For A Successful Interview

By Michael Rees

Michael Rees - A lot of applicants will have a resume and will want to save time by not completing all parts of the application. Make it clear to each applicant that you need every part filled out..

Tags: BDC

November 2007, Auto Dealer Today - WebXclusive

Planning To Avoid Wholesale Losses Keep 'Em Or Cut "Em?

By Randy Barone

Randy Barone - All too often, buyers get distracted by vehicles that they have a “gut feeling” will do well on your lot.

Tags: inventory

November 2007, Auto Dealer Today - WebXclusive

Get Your Share Of The Largest Growth Market Segment

By Greg Goebel

Greg Goebel - While it is reported that the average Beacon score is a 685, banks consider anything below a 720 Beacon or FICO score as non-prime credit. With credit unions the bar is set slightly lower, with 680 being the line at which prime credit begins.

Tags: BDC

November 2007, Auto Dealer Today - WebXclusive

The Meter Is Running

By Scott Dreisbach

Scott Dreisbach - Each manufacturer expects dealers to start ordering new products to integrate into their dealership inventories. With this expectation, each dealer must determine how many vehicles will be ...

Tags: BDC

November 2007, Auto Dealer Today - WebXclusive

Marketing and Advertising Your Special Finance Department: Part Two

By Greg Goebel

Greg Goebel - The most cost effective way to advertise is one of the easiest and most overlooked—references given by your existing SF traffic on their credit applications. Finance companies ask for a minimum of six references on credit applications.

Tags: BDC

November 2007, Auto Dealer Today - WebXclusive

Running With The Big Dogs: Elkin Chrysler Jeep Dodge Leave The Porch

By Daymond Decker

Daymond Decker - So, what happens when you mix old-fashioned, small-town car sales with newfangled technology? The answer is a dealership with increased exposure that translates into more sales and higher profits...

Tags: BDC

November 2007, Auto Dealer Today - WebXclusive

Keep Your Computer In Shape

By Jeff Smelley

Jeff Smelley - Many of us find out computers slowing down and/or having aggravating little problems that conspire to rob our time, patience and productivity. Here are a few common problems and what you can do to fix them, as well as prevent them.

Tags: BDC

November 2007, Auto Dealer Today - WebXclusive

Think One Deal At A Time

By Tom Herald

Tom Herald - The number of approvals the banks gives, the ability to collect on each loan, and your profits will all increase dramatically if you focus on deal structure before ever ...

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