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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

May 2007, Auto Dealer Today - WebXclusive

Meet And Greet On Dealership Time Decreasing The Amount Of Time In The Finance Office

By Glenn Roberts

Glenn Roberts - Everyone agrees that being in the F&I office too long is a bad thing, but a trip to the F&I office is another opportunity to make money. Let’s discuss why too much time in the F&I office is bad and how you can change it.

Tags: BDC

May 2007, Auto Dealer Today - WebXclusive

Johnson of Chickasha's BHPH Business Flourishes As Sub Prime Market Grows

By Jennifer Rincon

Jennifer Rincon - Dealer Lonnie Robertson, who estimated roughly 42 percent of their total business is sub prime, knows the value of incubating so many long-term relationships...

Tags: BDC

May 2007, Auto Dealer Today - WebXclusive

Minimizing Bad Debt Know When To Call A Collection Agency

By Michelle Dunn

Michelle Dunn - As a credit grantor, your business is one of many that allow consumers to use goods and services immediately and pay for them later. While extending credit increases your gross sales, it also puts you at risk of some losses due to nonpayment...

Tags: BDC

May 2007, Auto Dealer Today - WebXclusive

Control Your Data, Control Your Destiny

By Don Miller

Don Miller - With over 900 weeks of data reviewed, we have determined that the single best indicator of how well collections are being managed at a buy here pay here lot is the weekly collection rate...

Tags: BDC

May 2007, Auto Dealer Today - WebXclusive

Franchise Options For The Independent Dealer: A Look At Payless And Thrifty Car Sales

By John Carroll

John Carroll - Instant name recognition, vendor and lender relationships built on group rates, and some essential support services are among the leading reasons why a relatively small group of dealers around the country like Groves has opted to ...

Tags: BDC

May 2007, Auto Dealer Today - WebXclusive

Upgrade Or Replace<br>When Your Computers Need Help

By Jeff Smelley

Jeff Smelley - Simply put, upgrading can produce marginal results for a marginal period of time. Replacement is safer than upgrading, requires less knowledge and may ultimately be cheaper.

Tags: BDC

May 2007, Auto Dealer Today - WebXclusive

The Number Of Service Advisors You Need

By Don Reed

Don Reed - Once you have your service advisors working with 12 to 15 customers a day, you must then measure your shop productivity, which needs to be around 120 percent...

Tags: BDC

May 2007, Auto Dealer Today - WebXclusive

The Year For Project 200<br>Car City Superstore Aims High

By John Carroll

John Carroll - “We don’t market price or payments,” said Rubenstein. “We strictly market credit from the D-minus customer to the B customer, from the deep sub prime to the non prime...

Tags: BDC

May 2007, Auto Dealer Today - WebXclusive

The Complex Issue Of Special Finance Personnel<br>The Process of Hiring, Paying and Training Your Team

By Greg Goebel

Greg Goebel - Any way you view it, if you expect to add incremental growth, you must have more people lest you cannibalize your existing business. Keep in mind the benchmark SF closing ratio of 17 percent, or roughly one out of six leads...

Tags: BDC

May 2007, Auto Dealer Today - WebXclusive

Fishing For The "Up Bus"<Br>Getting Your Customers Back

By George Dans

George Dans - First of all, review where your current business is coming from. Source your opportunities, your phone calls and your sales. Once you find out where the majority of your current business ...

Tags: BDC

May 2007, Auto Dealer Today - WebXclusive

The Attorney On Your Side

By Greg Goebel

Greg Goebel - Every time dealers sell vehicles, they undertake a certain level of liability. You want to have your “I”s dotted and “T”s crossed. You want your sale documents to read the way you think they do.

Tags: BDC

May 2007, Auto Dealer Today - WebXclusive

Welcome The Phone-Up To Your Dealership

By Will Parquette

Will Parquette - The vehicle shopper simply doesn’t have as much “tire-kicking” time as they used to so they go to the phones to save on legwork and save time. Your staff needs to be prepared and trained ...

Tags: BDC

May 2007, Auto Dealer Today - WebXclusive

Don't Misrepresent The Buyer's Income To The Finance Company

By Thomas B. Hudson, Esq.

Thomas B. Hudson, Esq. - Most states have such a law and the laws are particular favorites of plaintiffs’ lawyers. Why? Because they usually provide for a doubling or tripling of the plaintiff’s damages and provide for an award of...

Tags: BDC

May 2007, Auto Dealer Today - WebXclusive

Taming The Floor Plan Monster

By Scott Dreisbach

Scott Dreisbach - It rears its ugly head from time to time and we all have to deal with the consequences it brings down upon us. It infects our mind, body and spirit. It feeds on vehicle inventory management decisions that were made without scientific facts.

Tags: BDC

May 2007, Auto Dealer Today - WebXclusive

Does Your Web Site Speak Spanish?

By Jason Ezell

Jason Ezell - A large contributor to the continued rise in our total population and the online population is the Hispanic market, but you might be surprised by the size of this group’s AIUs. Since 2000, America’s population has increased by over 18 million people ...

Tags: BDC

Blog

On-the-Point

Jim Ziegler
Turn Out the Lights, the Party's Over

By Jim Ziegler
The Alpha Dawg says goodbye to recordbreaking sales, uncovers the truth behind Trump vs. Ford, seeks justice for criminals in the executive ranks, and throws ‘The Book’ at Cadillac.

The Leads Are Weak

By Jim Ziegler
Did you ever try to cancel a lead provider for poor performance and, all of a sudden, their leads started closing at a crazy percentage? 'Da Man' reveals the ugly truth about the lead provider business.

It's a Nerd Meltdown

By Jim Ziegler

There’s a Vacancy in Mom’s Basement

By Jim Ziegler

Opening Observations

Over the Curb