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August 2007, Auto Dealer Today - WebXclusive

Five Steps To Structuring Special Finance Deals

By Greg Goebel

Greg Goebel - Gross profit makes the world go ‘round. You can’t spend a “unit,” a “deal,” or any other measurement——it all revolves around the gross. What then, does it take to earn that gross, and what exactly should our target be?...

Tags: BDC

August 2007, Auto Dealer Today - WebXclusive

The Right CRM Tools Make You Money

By John Max Miller

John Max Miller - Most CRM systems do not automate many processes. They require human interaction to manage and implement these processes, while automated processes cost nothing.

Tags: BDC

July 2007, Auto Dealer Today - WebXclusive

The Green Pea Phenomenon: Making the Customer Like You

By Erika Cooper

Erika Cooper - The success of green peas never ceases to surprise me. It's amazing that the less you know, the better you do in auto sales ...

Tags: BDC

July 2007, Auto Dealer Today - WebXclusive

The Hispanic Prospect: Make The Right Call

By Mauricio Espinosa

Mauricio Espinosa - Make sure that every staff member with any form of contact with the public has received multi-cultural training. Record language preferences in your CRM tool ...

Tags: BDC

July 2007, Auto Dealer Today - WebXclusive

Don’t Trash Flash: Search Engine Optimization and Flash - A Winning Combination

By Jason Ezell

Jason Ezell - Flash makes Web sites interesting, attractive and interactive. In today’s market, capturing and keeping your visitors’ attention is increasingly difficult...

Tags: BDC

July 2007, Auto Dealer Today - WebXclusive

Five Vital Steps For Better Deal Structure: Improving The Finance And Insurance Process

By Glenn Roberts

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.

Tags: BDC

July 2007, Auto Dealer Today - WebXclusive

Online HR Management Systems: Easing The Burden For Small Business Owners

By Carlos Rodriguez

Carlos Rodriguez - Achieving success in any business requires a relentless focus on the basics: the core product or service, customers, distribution channels, competitors and the bottom line.

Tags: BDC

July 2007, Auto Dealer Today - WebXclusive

"Yo-Yo" Deals In Finance: I Don't Think So

By Thomas B. Hudson, Esq.

Thomas B. Hudson, Esq. - The relative rarity of these transactions doesn’t faze the NCLC, or, for that matter, the press. They know a good, catchy (and loaded) headline phrase when they hear one. So, they call every conditional delivery transaction...

Tags: BDC

July 2007, Auto Dealer Today - WebXclusive

Your Pictures Are Worth A Thousand Clicks: An Advanced Lesson In Taking The Best Pictures

By Rob Chesney

Rob Chesney - When staging your photographs, select a site with a neutral background. Be sure that the location is free from visual distractions as well (a solid-color wall or an open area in a parking lot are excellent choices)...

Tags: BDC

July 2007, Auto Dealer Today - WebXclusive

Let’s Get Serious About Service!

By Don Reed

Don Reed - Let’s get serious about service and analyze what the real consequences are of this action. First, do you really believe your service manager will be able to spend the time needed to properly service 18 customers a day?...

Tags: BDC

July 2007, Auto Dealer Today - WebXclusive

Avoiding Serious Down Time: Backing up your Computer System

By Jeff Smelley

Jeff Smelley - How much time would be required to get back to an operational level? Are you sure you have all of your important data copied onto a secure, reliable media for recovery? How often are your backups done?

Tags: BDC

July 2007, Auto Dealer Today - WebXclusive

Successful Inventory Management: Avoiding Problem Vehicles-Part I

By Ryan Linnehan

Ryan Linnehan - One tool many successful dealers utilize in their efforts to maximize the quality of their inventory is a “Do NOT Buy List.” This is simply putting in writing exactly what vehicles you DO NOT want in your inventory...

Tags: BDC

July 2007, Auto Dealer Today - WebXclusive

Why Direct Mail Makes You Feel Listless

By Rob Anderson

Rob Anderson - Since many of you target customers have less-than-perfect credit, you should first understand that the addresses and phone numbers of “secondary” customers change more often than primary customers.

Tags: BDC

July 2007, Auto Dealer Today - WebXclusive

The Internet and Special Finance: The Silver Lining Of Financial Distress

By Daymond Decker

Daymond Decker - The evolution of e-commerce has provided a unique opportunity for dealerships of all sizes to move beyond their traditional restraints and limitations into the realm of digital financing...

Tags: BDC

July 2007, Auto Dealer Today - WebXclusive

Managing Multi-Regional Operations: Stewart Management Group Finds Success in Market Diversification

By John Carroll

John Carroll - Running a dispersed group of dealerships in several states offers some strategic economics in management oversight and technology.

Tags: BDC

July 2007, Auto Dealer Today - WebXclusive

Follow-Up Skills Everyone Needs

By Will Parquette

Will Parquette - Even if we have done a good job with the customer and covered all of the steps (selection, presentation, demo drive, etc.), averages dictate that about three of every four prospects will leave without buying ...

Tags: BDC

July 2007, Auto Dealer Today - WebXclusive

Telephone Skills: The Art Of Turning Leads Into Dealership Visits

By Greg Goebel

Greg Goebel - The phone call is the desired result of most sub-prime advertising and it is the way that three out of four sub-prime sales begin. The inability to convert initial contacts into dealership visits will easily undermine the most successful...

Tags: BDC

July 2007, Auto Dealer Today - WebXclusive

Court Muffs Ohio Spot Delivery Case

By Thomas B. Hudson, Esq.

Thomas B. Hudson, Esq. - In addition to the installment contract, the Pattons signed a “Purchase Spot Delivery Agreement” stating that the Pattons were taking possession of the minivan before approval of financing and that Wyler Eastgate could...

Tags: BDC

July 2007, Auto Dealer Today - WebXclusive

The Real Risk Of Being Audited: IRS Audit Statistics

By David Keller, CPA, CFE

David Keller - The IRS has stated that it believes tax return accuracy is at one of the lowest points in history. This indicates that they will be trying any and all means available to tighten compliance with the law in whatever manner they can...

Tags: BDC

July 2007, Auto Dealer Today - WebXclusive

Your Repair Order Trends: What You Learn From Them

By Aaron Tankersley

Don Reed - Having a lot of one-item repair orders also tell us that your technicians are not inspecting 100 percent of the vehicles they service, and your advisors are not reviewing the results of the 27-point inspection with 100 percent of your...

Tags: BDC

July 2007, Auto Dealer Today - WebXclusive

Preparing For The Customer: The Key To Sales Success

By Michael Rees

Michael Rees - Allow me to take you through a few steps to make sure your customer does more than just drive through your lot, or worse yet retreat at the first sign of a “salesperson.” ...

Tags: BDC

July 2007, Auto Dealer Today - WebXclusive

The Long Arm Of The Law: Interstate Internet Retailing Creates Legal Chaos

By Jennifer Murphy Bloodworth

Jennifer Murphy - Long arm statutes are state laws, so even though each state’s long arm statue is based on the same principle, they are not written or interpreted exactly the same...

Tags: BDC

July 2007, Auto Dealer Today - WebXclusive

How You Can Turn E-mail Into Sales

By Howard Polirer

Howard Polirer - Research tells us that most customers who are truly interested in purchasing your vehicle will pick up the phone and call you. However, you don’t want to miss the people who e-mail you since they are also viable customers...

Tags: BDC

July 2007, Auto Dealer Today - WebXclusive

Sweat The Small Stuff

By Greg Goebel

Greg Goebel - Having reviewed hundreds of Web sites to help determine the winners in the best Web site categories, I found more than 75 percent of the sites reviewed had embarrassing problems, including an amazing number that contained significant errors on...

Tags: BDC

July 2007, Auto Dealer Today - WebXclusive

Fine-Tune Your Online Used Car Business

By Dean Evans

Dean Evans - The age group represented by Generation Y (people now between the ages 12 and 30) are, or are about to become, big-time used car buyers. Indeed, used vehicles make up a significant majority of cars bought by, or for, people between the ages of...

Tags: BDC

July 2007, Auto Dealer Today - WebXclusive

Seven Dumb Rules That Impede Sales

By George Dans

George Dans - Sometimes if you want to sell more cars, you need to evaluate and abolish some of the rules you already have in place ...

Tags: BDC

July 2007, Auto Dealer Today - WebXclusive

Windows Vista: To Adopt Or Not

By Jeff Smelley

Jeff Smelley - Microsoft’s new Windows product has a “new” look and feel, new features, and improved this and more of that. Microsoft’s literature promises greater productivity, enhanced entertainment, easier use and a plethora of other feel good ...

Tags: BDC

July 2007, Auto Dealer Today - WebXclusive

The Three "C's" of Finance

By Tom Herald

Before the days of the Internet, credit bureaus or even the telephone, bankers loaned money to consumers to purchase items that they otherwise could not afford. Banking was a professional art where the often intimidating loan officer would structure a loan around what was called the Three “C’s” of Finance –

Tags: BDC

July 2007, Auto Dealer Today - WebXclusive

The BHPH Internet Connection

By Ryan Linnehan

Ryan Linnehan - After all, don’t BHPH customers tend to be more need-driven than impulse-driven in their vehicle buying? If so, are they really surfing the ‘net’ before buying, or are they just waiting until their car dies...

Tags: BDC

June 2007, Auto Dealer Today - WebXclusive

When Approaching The Hispanic Prospect, Don't Shoot Yourself In The Foot

By Mauricio Espinosa

Mauricio Espinosa - As soon as the salesperson opens their mouth, in those brief few initial seconds, your salesperson can choose to shoot themselves in the foot or present an excellent and lasting first impression...

Tags: BDC

June 2007, Auto Dealer Today - WebXclusive

The New Employee You Just Hired Committed Bank Fraud: The Value Of Background Checks

By Carlos Rodriguez

Carlos Rodriguez - Bad hiring decisions can affect a company’s finances as well as the morale and productivity of current staff. The US Labor Department estimates the cost to replace an employee is 30 percent of that person’s salary.

Tags: BDC

June 2007, Auto Dealer Today - WebXclusive

Online Ad Disclosures: Online Advertising Guidelines

By Jennifer Murphy Bloodworth

Jennifer Murphy - As most dealers know, when you make particular claims (what the FTC refers to as “trigger terms” or “trigger claims”) in advertisements of any kind, disclosures are required ...

Tags: BDC

June 2007, Auto Dealer Today - WebXclusive

Enjoy The Benefits Of Electronic Contracting

By Mark O'Neil

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 ...

Tags: BDC

June 2007, Auto Dealer Today - WebXclusive

Online Sales Go Full Circle: Tips And Techniques To Making Sourcing Inventory Online As Easy As Finding A Buyer

By Rob Chesney

Rob Chesney - Just as it does for any buyer, the Internet offers dealers a chance to find the best deal on the best selection of vehicles from across the country and around the world...

Tags: BDC

June 2007, Auto Dealer Today - WebXclusive

Are You NERVOUS About Your SERVICE?

By Don Reed

Don Reed - Common sense tells us that increasing your profit margins is the easiest of the three ways listed above. This is the result of nothing more than an attitude on the part of the dealer and his management team to follow NADA guides...

Tags: BDC

June 2007, Auto Dealer Today - WebXclusive

Finance Companies: Relationships Make The World go 'Round

By Greg Goebel

Greg Goebel - The easy way for a new-start company to gain market share was to offer greater advances – and that they did. Through the mid-90s dealers saw some really aggressive programs as new companies entered the market...

Tags: BDC

June 2007, Auto Dealer Today - WebXclusive

SEM & Microsites Generate Online Sales: Courtesy Chevrolet Capitalizes Opportunity

By John Zieglar

John Zieglar - Based on statistics of online searches by car buying shoppers, Courtesy Chevrolet decided to allocate the majority of its SEM budget to using online Google “Sponsored Link” ads to drive car buyers to its sites...

Tags: BDC

June 2007, Auto Dealer Today - WebXclusive

Wilde Jaguar Sells World Wide With The Help Of eBay Motors

By John Carroll

John Carroll - In February, eBay Motors announced that it’s taking their online auto auction to the next level, with plans to roll out a new service called the Local Market that will let dealers post all of their used vehicles online for a...

Tags: BDC

June 2007, Auto Dealer Today - WebXclusive

Service, Swedish Cars And The American Way

By Jennifer Rincon

Jennifer Rincon - During a time when American cars introduced front seat shoulder belts, Swedish engineers were already launching rear-facing child seats and testing their cars in aircraft wind tunnels...

Tags: BDC

June 2007, Auto Dealer Today - WebXclusive

Mind-Deal Manipulation Sales and Finance Create Dilemma: How Many Mind-Deals Make A Sale?

By Becky Chernek

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.

Tags: BDC

June 2007, Auto Dealer Today - WebXclusive

Federal Court Upholds Class Waiver In Arbitration Agreement

By Thomas B. Hudson, Esq.

Thomas B. Hudson, Esq. - Lately, plaintiffs’ lawyers have convinced a few courts that requiring a consumer to waive class relief is “unconscionable” and is reason enough for courts to refuse to enforce the arbitration agreements...

Tags: BDC

June 2007, Auto Dealer Today - WebXclusive

Business Survival After Retirement Or Death

By David Keller, CPA, CFE

David Keller - The best way to evaluate your business is to study the history of your industry. Learn why some businesses have failed when others have succeeded, then think through how you would have reacted in similar situations.

Tags: BDC

June 2007, Auto Dealer Today - WebXclusive

Big Box Ideas For Maximizing Multiple Listings Tested Tips For Enhancing Online Sales Without Enhancing Your Effort

By Rob Chesney

Rob Chesney - The secret to increasing your sales volumes on the Web is to understanding what online buyers are looking for and understanding the basics of coordinating multiple listings...

Tags: BDC

June 2007, Auto Dealer Today - WebXclusive

Seven Secrets To Success

By George Dans

George Dans - Aren’t you tired of start and stop programs? What if you were on a long distance driving trip and got lost? Would you go home and start all over again? No, you’d make adjustments, wouldn’t you? ...

Tags: BDC

June 2007, Auto Dealer Today - WebXclusive

End Antivirus Overkill

By Jeff Smelley

Jeff Smelley - A successful Internet security policy, when practiced, will provide the highest degree of protection while not adversely impacting your computer’s performance or encroaching on your work day.

Tags: BDC

June 2007, Auto Dealer Today - WebXclusive

Know Your Hispanic Market: The Trillion Dollar Market Coming Soon

By Mauricio Espinosa

Mauricio Espinosa - Another measurement of the market’s growth is advertising rates in Hispanic media. A recent sampling of 16 nationally distributed Hispanic magazines found that advertising rates for the year 2007 jumped more than 16 percent.

Tags: BDC

May 2007, Auto Dealer Today - WebXclusive

If Employees Steal Data, Customers Bolt

By Lisa Asbell

Lisa Asbell - Over the past few years, as concerns about identity theft grew, Congress stepped in and passed laws like the Fair and Accurate Credit Transactions Act (FACTA) and the Gramm Leach Bliley (GLB) Act.

Tags: BDC

May 2007, Auto Dealer Today - WebXclusive

Training Benefits Business

By Carlos Rodriguez

Carlos Rodriguez - Besides the direct financial impact to a business’ bottom-line, there are other benefits to investing in employee training programs. For example, training increases employees’ skill levels, positively affecting performance, and productivity.

Tags: BDC

May 2007, Auto Dealer Today - WebXclusive

Opening The BHPH Mailbag

By Ryan Linnehan

Ryan Linnehan - Inadequate capitalization is a problem that can sink a dealer no matter how long they have been in business, but those that are newly entering the business are especially vulnerable...

Tags: BDC

May 2007, Auto Dealer Today - WebXclusive

Tracking Advertising Online Provides Success

By Rob Anderson

Rob Anderson - The best thing about the Internet is its inherent accountability. Every click can be counted and every visitor logged, but you have to know how to make this information work for you ...

Tags: BDC

Blog

On-the-Point

Jim Ziegler
A Faster Horse

By Jim Ziegler
The Alpha Dawg wonders where the demand for driverless vehicles is coming from and has good news and bad news — but mostly bad news — for Fiat Chrysler and Cadillac dealers.

Strangers in the Mall

By Jim Ziegler
The Alpha Dawg makes new friends, stands up for Cadillac dealers, charts the rise of the independent lots, and reconsiders free trade agreements.

You Can’t Handle the Truth

By Jim Ziegler

Watch Out for Grizzlies

By Jim Ziegler

Opening Observations

Over the Curb