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 [...]

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 [...]

How do you market to clients with a big tax refund burning a hole in their pockets? How do you get to them before they mentally or physically spend the money?
Well, there are several approaches that work well. One is to get their attention during the filing process itself. This can be done several ways.
Signing [...]

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 [...]

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 [...]

In my training, I always talk to special finance personnel about not stereotyping special finance customers. I stress for them to always remember at least one customer that they helped get financing when they were in a bad spot in their lives that was due to circumstances beyond their control. It helps to make the [...]

Dealers everywhere are starting to realize their advertising dollars are better spent on the internet as opposed to some other more traditional media. Not to say that advertising, such as direct mail, is not an effective method to pinpoint a target audience, internet marketing is becoming similar to newspaper advertising.
17 years ago when I started [...]