Credit union lending’s prevailing strength is filling the profit sail for increasing numbers of auto dealers. Data shows credit unions provide aggressively competitive rates that ensure deals with deep product penetration, and have little cancellation risk. Credit unions have become a valued partner for dealers, providing excellent locations to go to get paper bought, and … [Read more...] about Why Dealers Are Riding High on the Credit Union Wave
Finance & Insurance
“I’m king of the world!” exclaims Leo DiCaprio’s character Jack in the famous scene from the smash film Titanic. It was the height of the character’s joy because everything was going his way. But it did not last. (Spoiler alert!) We all know what happened to the Titanic in real life. We’ve heard the 20/20 hindsight technical analysis of all the critical decisions made by … [Read more...] about Automotive Disruptors Are the Forewarning of “Icebergs” Ahead for Dealers
As a kid, you were probably told at some point to “play nice” with siblings, cousins, and classmates. As an adult, you automatically play nice with family, coworkers, customers, and the various people who cross your path in the course of your daily activities. When you play nice, interactions seem to go smoother, and all parties involved have a better experience. The same … [Read more...] about How Dealership Tools That “Play Nice” Together Engage Buyers
You cannot negotiate with a storm. Once it’s upon you, it dictates to you what you have to do. But knowing that the storm is coming means you have choices to make to prevent catastrophe. And when the weather forecaster and the umbrella salesperson work together, storms become something different altogether. We are living in a moment of climate change in the way car … [Read more...] about Are You Ready for the Climate Change Coming to Your Dealership Ecosystem?
In October 1948, two brothers closed their hamburger restaurant, fired their carhops, streamlined their menu, reorganized their kitchen, and invented the Speedee Service System, which emphasized speed, low prices, and high volume. Their redesigned drive-in opened a few months later and was innovative for its day, requiring the customers to learn how to serve themselves by … [Read more...] about Without a Workflow Process, Your F&I Department Is Just Winging It