Over the last two years, a tremendous number of formerly prime credit customers have been adversely affected by the shaky economic status of our country. You need not look any further than the United States’ average credit score, which is down almost 50 points from where it was only four years [...]

Having a lending partner that caters to the bankruptcy niche is critical to a special finance department’s success. In fact, many bankruptcy lending specialists not only survived the downturn, but they are coming on strong this year. They pulled it off by focusing less on credit scores and looking for stability [...]

Credit availability for subprime customers is still low, but the well is not dry. In fact, there are signs that special finance is making a comeback, with the bankruptcy niche leading the way. Finance sources with an established history in the bankruptcy segment know the payoff is worth the risk. They know those consumers will [...]

By Steve Finlay
WardsAuto.com, Dec 3

ORLANDO – Not yet out of the hospital, subprime auto financing at least has left the intensive-care unit.
The credit crunch that hit in 2008 hurt virtually all levels of financing. Subprime suffered the most, making it tough for people with low credit scores to get car loans.
But so-called special financing “is [...]

Used car departments have always been the key to any dealership reaching its maximum profitability. In these current economic times with inventory cost up and grosses down, you need to very smart about your inventory practices.
When was the last time you looked at what is selling for you on your used car lot? I don’t [...]

Form AJ Ager, Finance Director of Al Serra Chevrolet in Colorado Springs
Let me pick your brain on a couple of things
With BDC shit
How do you feel about auto responders?
How often do you follow up on internet leads?
How much do you like templates?
Here you go AJ:
How do you feel about [...]

As we discussed last month, more and more franchise dealers are building up their in-house finance portfolios as many lenders continue to restrict or discontinue their subprime programs. In speaking with dealers who have already made the jump into the treacherous but profitable waters of buy-here, pay-here, we also learned that the key to success [...]

RAISE THE FLAG: As new-vehicle sales continue to slump, many franchise dealers are considering adding a buy-here, pay-here operation for the first time.
As financing for credit-challenged customers gets harder to find, more new-car dealers are turning to in-house financing to get the deal done.
Albert Einstein once said, “The definition of insanity is doing the [...]

Men are notorious for refusing to pull over and ask for directions. GPS navigation units have helped this road warrior avoid the issue altogether. But on the road to the sale, I ask for directions from every customer I meet. If I didn’t, I’d never reach my destination.
In my training sessions, I stress developing a [...]

Dealers are looking everywhere they can to find profits to boost their bottom lines and return to profitability, and special finance is going to play a huge part in achieving that goal. With the limited number of funding sources, booking deals for credit-challenged customers has become harder, even as that sector continues
to grow. To really [...]