BDC - Tagged Posts - Auto Dealer Today

Toyota Sunnyvale's Direct Sales Department Accounts for Half of Dealership Sales

The last month the store topped 600 was September 2008. Its three-month average for December ‘08, January ‘09 and February ‘09 was about 350 units per month, and while those three months are typically the slowest months of the year at Toyota Sunnyvale, Scott Pettitt, direct sales director, said the dip in sales was also partially due to market conditions. The direct sales department, which is similar to an

Building a Special Finance Department from the Ground Up

A topic that polarizes industry professionals still today. While some dealers are pulling out of the SF arena, several dealers think now is the opportune time to build a special finance department because they believe the future of SF is bright.

Red Flags Rule

Randy Henrick - You probably know that the Federal Trade Commission (“FTC”) delayed the enforcement date for the Red Flags Rule, but that’s just one piece of the puzzle. Compliance with the Red Flags Rule may prove to be the best thing you can do for your dealership, especially if you are located in a high-identity-theft state such as Arizona, Nevada, California, Texas, Colorado, Florida or New York. The dealer and the dealer alone is the loser when an identity thief buys a car, and just one sa

The Fundamentals of BHPH

Tom Herald - Special finance is continuing to evolve at a rapid pace. The demand for financing is growing as consumer credit shifts lower on the spectrum and several national non-prime lenders scramble for cash during the credit crisis. This combination of events has created a very challenging dilemma for many car dealers—how to finance customers in the “no-man’s land” of credit? This tier I am calling the “no-man’s land” is for customers with credit scores

ILM is Not CRM

Jonathan Ord - Imagine that your dealership was sectioned off into little rooms. When a customer approached your dealership ... they would be escorted to one of the rooms based on something arbitrary, for example, hair color ... Each room would have assigned salespeople ... would have a computer with customer information separate from every other computer. None of the rooms would interact or

State Park Motors and Onaway Auto

For more then 30 years, Willard “Bill” Davis has maintained two successful pre-owned operations on sound business practices. Davis’ roots in the automotive industry run deep. His career started on his brother’s used Jeep lot, where he worked for 13 years before beginning an 18-year career with Hertz.

Maximizing Lead Performance

Third-party lead providers are still some of the best sources for online leads. The right provider will help you generate the quantity and quality of leads your store needs to boost profits. But it can take more than having a reputable lead provider on board to ensure positive results. Good in-store processes are also necessary to guarantee high close rates...

Zoombak

Not so long ago, a BHPH dealer always had to sweat a little when watching his collateral go over the curb in the hands of a high-risk customer. If the customer defaults, how much time and effort will go into locating and repossessing the vehicle?

Prestige Volvo Sees the Future Online

When he was growing up, Matthew Haiken had no doubt about the career he wanted to pursue. “I wanted to be a car dealer from a very young age … I love the business, every aspect of it. I love the competitiveness, the entrepreneurial spirit,” he said. In fact, he started attending 20 group meetings at the age of 16. “I loved being around car dealers; to me they were ...

The Internet and Its Effect on Accounting Departments

Dave Keller - You, your accounting personnel or your accountant can access your data from any Internet connection using communication software such as PC Anywhere, VPN, VNC and terminal services connections. This enables real-time analysis of your dealership data with your accounting personnel. The Internet also lets you download the data to other software or third-party vendors you have authorized to receive your data ...