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Useful Articles

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Apples and Pomegranates
Consumers will suffer from the CFPB’s use of the word ‘loan’ in place of ‘auto finance contracts.’
It’s Monday, But That’s OK
F&I pros can escape the weekly grind by focusing on authenticity and turning car buyers into loyal customers and dealer advocates.
Combining the efforts of sales and F&I could negatively affect customers by narrowing their financing options. F&I professionals must be trained to demonstrate the value of all types of financing, including dealer-arranged financing.  Saving F&I
Before you eliminate your F&I department, bring it back to life by clearly delineating its purpose and establishing its value to your customers.
Customers are more likely to order needed repairs and return for future service when dealers make constant, transparent and friendly communication a priority.  6 Touchpoints for Service Customers
Dealers are earning loyal service customers by focusing on providing a positive experience in every phase of the transaction.
Steve Song took over as president of FH Dailey Chevrolet in San Leandro, Calif., in 2011. Song believes General Motors is invested in creating opportunities for minority members in a changing industry.  Progressive Dealers
Minority dealers have increased their numbers, but many say the industry is still lacking in terms of representing its customer base.
Big and Small
This month’s collection proves that concept and custom cars come in all shapes and sizes.
Lead Time
These four services were designed to help dealers create new sales opportunities and upsell customers.
As the face of his multistate dealer group and a West Virginia state senator, Bill Cole is comfortable in front of the cameras, and his affable personality comes through on TV.  To Be or Not to Be On-Camera
Are you ready — and qualified — to become the face and voice of your dealership? Marketing expert asks the tough questions.
Women Are Not a Moving Target
Simple promises and superior results are the key to marketing your dealership to women.
The Foundation of Marketing Expansion
Dealers who dive into special finance without personnel, processes and pay plans in place are bound to miss opportunities.

DP's Office News

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ADM Reader Survey: Social Media
Auto Dealer Monthly is conducting a reader survey designed to gauge the effectiveness of social media in generating sales and service leads. Click on the headline to complete the brief survey.
Exeter’s Floyd Stepping Down from CEO Post
Mark Floyd will join Exeter's board of directors and will work with his replacement, Thomas Anderson, to ensure a smooth transition, the company said late yesterday.
Mich. Governor Signs ‘Anti-Tesla’ Bill
Governor Rick Snyder signed into law yesterday tighter restrictions on selling vehicles directly to consumers. The new law now effectively bans Tesla Motors from selling vehicles in the state.
Used-Vehicle Price Adjustments Keep Retail Markets on Track, Manheim Reports
The 1.1% third-quarter decrease in the Manheim Used Vehicle Value Index didn’t set off alarms despite it being the fifth straight decline in used-vehicle prices. The firm’s chief economist noted that the drop helped dealers increase vehicle turns as the market continues to inch toward more normal levels.
Facebook Playing Bigger Role in Dealer Selection, Study Shows
A survey of 2,000 consumers revealed that Facebook is now among the Top 5 dealer reviews sites used by car shoppers, with 75% of respondents indicating they trust reviews posted by friends on the social media site vs. reviews posted on other sites by people they don't know.
Inaugural Compliance Summit Set for Nov. 10-11
The new event is designed to offer actionable compliance solutions to dealers and their partners. It will be held at the Seminole Hard Rock Hotel & Casino in Hollywood, Fla.
eLEND Solutions Launches Credit Application Platform
The firm’s CreditPlus is an interactive credit application platform that instantly preapproves shoppers based on the dealer’s defined credit criteria. Consumers can also view their credit score and pick their payments.
Kontos: Wholesale Used-Vehicle Prices Soften Again in September
Wholesale used-vehicle prices softened for the fifth straight month in a row, ADESA reported this week. But improved retail sales of used vehicles helped cushion the blow from growing supply.
Cox, Federal-Mogul Purchase Stake in AutoMD
Federal-Mogul Motorparts and Cox Automotive have purchased a minority stake in the free online automotive repair website, which previously operated as a wholly-owned subsidiary of U.S. Auto Parts Network Inc.
John Pappanastos, CEO of EFG Companies Minnesota AG Sues EFG Over Service-Contract Refunds
Attorney General Lori Swanson is suing EFG Companies for deceptive practices because it failed to deliver on its promise of full refunds for VSCs canceled within 30 days. The company’s CEO tells F&I and Showroom his company will be exonerated once all the facts are presented.